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Article: Days of supergrowth in Silicon Valley are over for a while.(Knight Ridder Newspapers)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- August 6, 2001
- Author:
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN JOSE, Calif. _ Silicon Valley, get ready for life in the slow lane.
After five years of turbocharged growth, the tech-dominated economy here is still plunging toward a bottom. When it starts to turn around, economic growth could well look positively ordinary over the next four years. Economists warn that the valley may show signs of lagging _ or performing only marginally better _ than the national economy: flat or declining real estate prices, slower personal income, higher unemployment and meager job growth.
The good news is that the tech bust isn't expected to be as bad as the long recession in Southern California after the defense industry ...