Central & South Asia

California economy sees signs of rebound

Job growth and improved housing market signal upturn after five years of economic decline.
Last Modified: 19 Dec 2012 03:26

After five years of economic decline, the US state of California is apparently showing signs of an upturn with job growth and an improved housing market.

Statewide employment dropped 1.4 per cent since last year and is now at its lowest level since 2009. Home sales are also increasing, signalling a rise in consumer spending.

California's budget deficit is also projected to shrink to $1.9b this year, compared to shortfalls of $25bn in recent years. 

Al Jazeera's Rob Reynolds reports from Los Angeles. 


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