USD says December economic indicators were all positive
The University of San Diego’s local index of leading economic indicators rose .7 percent in December, the university announced Thursday.
For the first time since 2004, all six of the components of the USD index — building permits, unemployment insurance, stock prices, consumer confidence, help wanted advertising and the national economy — were positive for the month.
The monthly index is compiled by economics professor Alan Gin for USD’s Burnham-Moores Center for Real Estate.
According to Gin, the outlook for the local economy is positive.
“There are signs of recovery in some sectors of the economy, such as housing, where prices are up more (than) 8 percent from the low and where there has been a pickup in sales,” the index states.
However, Gin cautioned that there is likely to be another wave of foreclosures as adjustable rate mortgages readjust and job losses take their toll.