Update on the California Economy: Strong Headwinds

1
Update on the California EconomyStrong Headwinds

• San Diego Economic Roundtable
• University of San Diego
• Joan B. Kroc Institute for Peace and Justice
• January 16, 2009
• Howard Roth
• Chief Economist
• California Department of Finance

2
Overview

• The national and California recessions are
  worsening at an increasing rate.
• The national and state housing sectors continue
  to be subtract from overall economic growth
• Consumers have pulled back.
• The credit crunch is a major impediment to
  economic recovery.
• 2009 will be a weak year for both economies.

3
(No Transcript)
4
(No Transcript)
5
(No Transcript)
6
(No Transcript)
7
(No Transcript)
8
(No Transcript)