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Wells Fargo Upbeat on California Economy

LOS ANGELES-A Wells Fargo Securities report says California will out-perform the national economy over the next few years.

By Bruce Haring | Updated on July 29, 2013

LOS ANGELES-A report by Wells Fargo Securities Economics Group indicates the national economy is gaining momentum, but will continue growing only at a moderate pace. While that may not be great news, Wells indicates that modest growth will likely forestall any Federal Reserve plans to end its economic stimulus efforts for the foreseeable future.

The firm’s forecast is more bullish on prospects for the Western US, particularly California. Wells says Western states should outperform national economic growth over the next few years.

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