Capitol Alert
The latest on California politics and government
June 20, 2012

California’s recession-battered economy is improving but at a “slower than desired pace,” says a new overview by Beacon Economics, a private firm that advises both private and public clients, including the State Controller’s Office.

“California’s economy is not headed for a double dip and will continue to grow although reaching the state’s pre-recession peaks on some indicators is still several years away,” the Beacon report says, adding that technology, agriculture, travel and business services seem to be leading the recovery.

Beacon’s forecast, to be presented today at an economic conference in Los Angeles, closely parallels the economic assumptions of Gov. Jerry Brown’s latest state budget. It sees a 1.5 percent increase in non-farm employment this year, followed by a 1.9 percent gain in 2013.

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