The Association of Bay Area Governments (ABAG), called the economic bottom today (at least for Northern California). This "gutsy" call came during ABAG's 22nd annual Bay Area Economic Outlook Conference, with economists forecasting stabilization in 2010, with slight growth in 2011.
Published reports detail that ABAG is forecasting an additional 20,000 jobs lost in 2010, but a gain of 8,000 jobs in 2011. Income growth will be negligible in 2010, however is forecast to grow 2.5% in 2011. Finally, sales growth is forecast for a tepid 1.0% in 2010, increasing to 1.9% in 2011.
Ok, this forecast isn't setting the world on fire - but at this point 0 growth is better than negative growth.
Published reports detail that ABAG is forecasting an additional 20,000 jobs lost in 2010, but a gain of 8,000 jobs in 2011. Income growth will be negligible in 2010, however is forecast to grow 2.5% in 2011. Finally, sales growth is forecast for a tepid 1.0% in 2010, increasing to 1.9% in 2011.
Ok, this forecast isn't setting the world on fire - but at this point 0 growth is better than negative growth.
