San Diego Business Journal

USD Economic Index Continues Its Rise

By Mike Allen Thursday, August 30, 2012

An index measuring the local economy rose 0.3 percent in July, the ninth month in a row that it has increased.

Five of six components of the USD Burnham-Moores Center for Real Estate’s Index of Leading Economic Indicators for San Diego County were up in July, led by moderate gains in issued building permits, help wanted advertising, and the outlook for the national economy. The index showed smaller increases in local stock prices and consumer confidence.

The only measure that declined was a larger number of initial claims for unemployment insurance, which were counted as moderately negative to the index.

“Although the gains in the last two months were modest, the outlook remains for continued solid growth in the local economy, at least into the first half of 2013,” said Alan Gin, the USD economics professor who compiles the data for the index.

Gin noted that July’s net job gains followed positive results in June, and totaled 35,100 for the past 12 months, the best year-over-year comparison since December 2000.