California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The Kern Economic Journal is a quarterly publication of California state University Bakersfield,
CSUB Economics Department has released a  new series survey business growth and confidence.

The survey of employers identified that 13 percent expect to hire more employees, while none
expected to reduce their payrolls. The majority of business managers interviewed (58 percent) felt
that economic conditions would be unchanged next quarter. But, 31 percent anticipated the
economy would get better. There is guarded optimism going into 2008.

The cautious business outlook appears to carry over to consumers. In the fourth quarter of 2007,
consumer confidence wavered slightly. The Bakersfield Index of Consumer Sentiment decreased
from 115 in the third quarter to the most recent rate of 111.

The county's housing market remained soft on both price and volume, with the median housing
prices plummeting $9,400 (6.7 percent) from $252,000 in the third quarter to $242,600.

I am Tim Johnson and this has been the California Business Minute.

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