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Economy

'No Recovery in Sight,' Says UCLA Anderson Forecast

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Wed, Jun 15, 2011 at 1:13 PM

click to enlarge Shop for America. - ADAM TINWORTH
  • Adam Tinworth
  • Shop for America.
Things were looking up there for a second, right?

Unemployment was creeping down, people were starting buy houses again, you got the new iPhone.

And then, boom: Housing prices went toilet-bound again, unemployment barely budged, and the stock market is experiencing Charlie Sheen-like mood swings. People are talking double-dip recession again.

Now the UCLA Anderson Forecast has to put an exclamation point on that bad news. It's titled ...

... "No Recovery in Sight."

Thanks for the subtlety, Bruins. A UCLA statement says economists are calling for "slow growth through the end of the year" in California "as the state attempts to regenerate the 1.3 million jobs lost in the recession while also finding work for new entrants into the labor force."

Fun.

Nationwide, the second-quarter report for 2011 predicts "normal" growth, but no recovery. UCLA says that "until consumers start buying homes and cars, the recovery will remain in the future."

So buy stuff, damn it.

[More].

[@dennisjromero/djromero@laweekly.com]

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