USD: County’s economic indicators up for 13th month
A boost in local stock prices, help-wanted advertising and building permits pushed the University of San Diego’s Index of Leading Economic Indicators up in April for the 13th consecutive month, it was announced Thursday.
The index rose .2 percent in April, compared to the previous month, according to Alan Gin, who compiles the monthly index for USD’s Burnham-Moores Center for Real Estate.
“The breadth of the advance was mixed, with half the components moving downward, although the drops in initial claims for unemployment insurance and the outlook for the national economy were relatively small,” the index states.
According to Gin, the outlook for the local economy continues to be for moderate growth for the rest of the year.
There are also signs that job growth is picking up, with employment up for three straight months, according to the index.
On the downside, retail trade continues to contract as local consumer confidence has hit a plateau and has been trending downward, according to Gin.