The UCLA Anderson Forecast released its latest prognostications yesterday and much of the media carried stories. The opening paragraph of the press release that accompanied the forecast reads as follows:
In its fourth quarterly report of 2011, the UCLA Anderson Forecast’s outlook for the nation sees GDP growth at a “below trend rate” for the next five quarters. Specifically, the Forecast calls for a 2% growth rate for the current quarter and a sub-2% growth rate for most of 2012. Further down the road, GDP is forecasted to exceed 3% in 2013 as a number of contractionary forces continue to abate. Despite the tepid numbers, the current national forecast is actual more optimistic in tone than the preceding forecasts of June and September. In California, the current forecast is for the recent surge in employment to abate while slow growth persists on average through 2012. The rest of the United States, the state’s international trading partners and consumer purchases will combine to generate faster growth in 2013.
Here is some of the media's coverage:
Comments