La Niña conditions, which started in the third quarter of 2007, continue across
the central and eastern Equatorial Pacific. Basin-wide features are now typical
of the mature stage of a La Niña event, including in the western Equatorial
Pacific. The magnitude of the event continues to be in the middle range of
those observed in the historical record. The La Niña event is expected to
continue at least through the first quarter of 2008. Many La Niña events in the
historical record are found to decay rapidly during the March-May period, but it
cannot be determined at this time whether or not this event will decay during
the same period. By the middle of the year, La Niña and, what is referred to as
‘neutral conditions’ are considered to be about equally likely, with El Niño
continuing to have a low likelihood of occurrence at this stage. Long-term
statistics indicate neutral conditions should currently be considered a more
likely outcome for the latter part of 2008.