The California economy has fallen into a deep recession and will contract through the first half of 2009, according to the latest UCLA Anderson Forecast, released this week.

“The forecast for the next three quarters is one of contraction in economic activity, followed by the beginning of a slow recovery,” senior economist Jerry Nickelsburg said in a report. “California and other local governments are struggling with falling revenues for the 2008-2009 and 2009-2010 fiscal years and are unable to counteract this with an economic stimulus.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.