Good economic times ahead predicted for Sacramento region
January 23, 2013
• Upbeat assessment of local economy
• “Slowly the jobs are coming back, so we are very optimistic about 2013”
It may not be boom times, but at least better times are ahead for the Sacramento region in the Central Valley, according to predictions from Sacramento State’s College of Business Administration and the Chartered Financial Analysts Society of Sacramento.
While there are still plenty of issues ahead, the regional economy is growing and will continue to do so through 2013, according to the groups’ January 2013 edition of Sacramento Business Review.
Sacramento’s recovery may not be as aggressive as those in other parts of the state or nation, but its economy has been improving slowly since the end of 2011, says Sanjay Varshney, dean of the College of Business Administration. “Slowly the jobs are coming back, so we are very optimistic about 2013,” he says.
Other findings include:
• Consumer spending is expected to grow but faces headwinds, including some mini-cliffs and payroll tax increases.
• Small businesses face tough choices due to changes in tax and health-care laws.
• Job growth in construction and financials is expected to rebound.