USD: Ups and downs leave local economy flat in November

The University of San Diego’s local index of leading economic indicators was flat in November, it was announced Thursday.

The index, which is used to gauge the health of San Diego’s economy, is compiled by economics professor Alan Gin for USD’s Burnham-Moores Center for Real Estate.

Consumer confidence and the outlook for the national economy were up sharply during the month, offset by a big tumble in local stock prices, a slight decline in the number of building permits and a small rise in the number of initial claims for unemployment insurance.

The outlook breaks a string of seven increases for USD’s index.

According to Gin’s index, the outlook for the local economy calls for improvement in the job sector in the second half of the year. However, the first few months of the year may be weak, with the local unemployment rate approaching 11 percent, he said.