For most products, order growth rates are declining but remain positive. A surge in imports and slowing economic growth in much of the world are primarily responsible. The trough in the high tech slowdown will likely be in the second quarter of the year. The high tech slowdown has resulted in some easing in rental markets less in San Jose than in San Francisco and San Mateo County. High tech companies are concerned about the certainty of energy supply.
Employment remains healthy.
The California Chamber Economic Advisory Council, made up of leading economists from the private and public sectors, presents a report each quarter to the Chamber Board of Directors. The council is chaired by Howard Roth, senior vice president of the Investment Research Company. The vice chair is Jack Kyser, chief economist of the Los Angeles Economic Development Corporation.