Healthly Economic News
The Capital Region continues to enjoy one of the best economies in the state and nation. The housing market has settled from its feverish pace but all other sectors continue to experience record growth. The University of the Pacific, located in Stockton, released their economic forecast for the state consisting of sustained good news.
According to the forecast which can be found in more detail at http://forecast.pacific.edu the California economy will continue to see robust growth from 2006 to 2008. The Sacramento area is expected to lead the state in employment and personal income gains.
High growth employment sectors continue to be: Professional and business services, transportation, warehousing and utility, education and health services.
Gross State Product will grow at a 6.4 percent rate in 2006 slowing to an average of 5.3 percent between 2007 and 2008. Personal income expected to be 6 percent this year will taper off to 5.6 percent during the next two years.
Their forecast on interest rates is that they will increase to 7.25 by 2008 and that housing starts peaked in 2005 and will continue to decrease over the next few years.
More good economic news came from Brent Cardwell, a senior investment manager and vice president of Wells Fargo Private Client Services who said in a recent interview for Comstock’s “The Sacramento region has had the fastest-growing population in the state over the last five years and is projected to remain the leader through the end of the decade. The majority of the growth has been domestic and can be attributed to the influx from the Bay Area and Southern California.”
Now keep all that good news in perspective when watching the evening news broadcast!
According to the forecast which can be found in more detail at http://forecast.pacific.edu the California economy will continue to see robust growth from 2006 to 2008. The Sacramento area is expected to lead the state in employment and personal income gains.
High growth employment sectors continue to be: Professional and business services, transportation, warehousing and utility, education and health services.
Gross State Product will grow at a 6.4 percent rate in 2006 slowing to an average of 5.3 percent between 2007 and 2008. Personal income expected to be 6 percent this year will taper off to 5.6 percent during the next two years.
Their forecast on interest rates is that they will increase to 7.25 by 2008 and that housing starts peaked in 2005 and will continue to decrease over the next few years.
More good economic news came from Brent Cardwell, a senior investment manager and vice president of Wells Fargo Private Client Services who said in a recent interview for Comstock’s “The Sacramento region has had the fastest-growing population in the state over the last five years and is projected to remain the leader through the end of the decade. The majority of the growth has been domestic and can be attributed to the influx from the Bay Area and Southern California.”
Now keep all that good news in perspective when watching the evening news broadcast!
posted by Ken Calhoon at 7:45 AM
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