Union Bank of California:

WHAT:

Keitaro Matsuda, senior economist for Union Bank of California, today released his October 2006 Economic Report focused on the San Francisco Bay Area. The report highlights the acceleration of the region's economy, which is especially significant because it took the Bay Area longer than any other region in the state to emerge from the recession earlier this decade. The report, titled "The San Francisco Bay Area Finally Catches up with the Rest of the State," is part of a monthly series produced by Matsuda on the California, Pacific Northwest and U.S. economies.

 

WHY:

The October 2006 Economic Report discusses factors affecting the economic outlook in the San Francisco Bay Area, including:

 
-- Rapid pace of regional job growth, increasing one and a half times the rate achieved in 2005
 
-- Effect of housing boom and service industries on regional employment statistics, particularly in the East Bay
 
-- Importance of digital media, biotechnology, and alternative energy as future sources of economic growth
 

WHO:

 Keitaro Matsuda has served as senior economist for Union Bank of California since 1997. He monitors economic trends and developments for Union Bank management and customers. Mr. Matsuda is also a member of the economic advisory committee of the American Bankers Association. Union Bank of California, the wholly owned subsidiary of UnionBanCal Corporation (NYSE: UB), provides a broad range of financial services to consumers, small businesses, middle market and large corporations.
 

AVAILABILITY:

The October 2006 Economic Report is available upon request.

 

INTERVIEW:

 Keitaro Matsuda is available for interviews to share his insights about local, state and national economies. Please contact Alicia Romero or Jessica Vitale to schedule an appointment.