LAEDC Predicts State Will Avoid Recession

The Los Angeles Economic Development Council released a report this week saying the state should narrowly avoid a recession, but paints a less than rosy picture for employment growth and recovery of the housing market.

Read the review of the report in Business Week, here.  Accrording to the report: "The housing slump will likely keep stifling purchases of furniture, home appliances and building materials, according to the forecast.  That, in turn, will be a drag on local government coffers, which depend on retail sales tax revenue."