THE ECONOMY

State Economy Will Defy U.S. Slowdown, Bank Says: The California economy should continue to improve and add 230,000 jobs this year as the national economy slows down, according to First Interstate Bank. The bank’s economic update says the state should benefit from lower mortgage and other long-term interest rates, increased trade with Asia and Europe and pent-up demand within the state. Nationally, the rate of economic growth should slow to between 2% and 3% from last year’s 3%-5% range.