San Diego economic index ticks up a notch

City News Service

The University of San Diego Burnham-Moores Center for Real Estate’s Index of Leading Economic Indicators for San Diego County rose slightly in May for the seventh straight month, according to figures released Tuesday.

“The outlook continues to be positive for the local economy, and growth is expected at least through the end of 2011,” USD business professor Alan Gin said.

The climb between April and May was led by a sharp increase in help-wanted advertising and the national Index of Leading Economic Indicators.

The local index was also helped by a decline in initial claims for unemployment insurance, increases in local stock prices and a jump in the number of residential building permits taken out in May for the fifth month in a row.

Those components of the index overcame a drop in local consumer confidence.

Gin acknowledged that the gains were fragile.

The 0.7 percent climb in the index in May was the third straight month in which the increase was smaller than the month before, and was the smallest figure since last December’s 0.4 percent uptick.

Gin said the increase in home building permits was smaller than in the first four months of the year. Also, much of the growth in local stock prices in May was given back in the last couple of weeks.

“The USD Index has been signaling a rebound for the last two years, yet the local economy remains in difficult straits,” Gin said.

The outlook is for continued slow growth, he said.

Related posts:

  1. Local stocks movement aids county’s economic indicators
  2. County’s Economic Roundtable to exploree local outlook
  3. November’s economic indicators show slight improvement
  4. San Diego economic indicators remain unchanged for third month
  5. Economic indicators for San Diego show slight dip in September

Short URL: http://www.lajollalight.com/?p=45170

Posted by Staff on Jun 29, 2011. Filed under News, Region. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

La Jolla Community Calendar

Facebook

Bottom Buttons 1

Bottom Buttons 2

Bottom Buttons 3

Bottom Buttons 4

Bottom Buttons 5

Bottom Buttons 6

RSS North Coastal News

  • VA System Working with Local Providers to Reduce Wait Times July 28, 2014
    By Joseph Franz Wait times at the VA has been a common headline lately. The U.S. Department of Veteran Affairs has come under fire as tens of thousands of veterans nationwide have been waiting three months or more to get their first VA medical appointment. This has caused dozens of investigations and led Veterans Affairs […]
  • Local camp shapes Solana Beach youth into community leaders July 28, 2014
    After attending the inaugural La Colonia de Eden Gardens Youth Leadership Camp last year, Edgar Vergara was inspired to make positive change in Solana Beach’s Eden Gardens community. Along with other local teens, the 15-year-old co-founded the youth group La Colonia Changers and recently hosted a town hall forum on underage drinking. Passionate about making […]
  • Del Mar Union School District approves new contract for superintendent July 28, 2014
    The Del Mar Union School District Board July 23 approved the new contract for Superintendent Holly McClurg through June 30, 2018. Per the contract, McClurg’s annual salary will be $185,000 with an annual doctoral stipend of $10,000. She will receive a car allowance of $400 a month, 25 vacation days, health benefits and a retirement contribution of $700 a mon […]