83.9 F
San Diego
Wednesday, Jul 24, 2024
-Advertisement-

Economic Index Shows a Decline, Year-Over-Year

San Diego’s economy continues to lag compared with where it was a year ago, according to a June 20 report from the San Diego Institute for Policy Research, a privately funded think tank.

While three of five measurements of an economic index increased in April from March, all five showed declines when compared with the index of April 2006.

The three segments that increased during the month were consumer confidence, the local stock index and new business licenses. The two indicators that declined were construction and unemployment. The latter rate for the region was up in April, and measured as a negative.

While consumers felt their own economic conditions improved during the month, their views of the region’s economic health declined, the SDI survey found.

“Record high gas prices and continued sluggishness in the housing market may be souring the outlook,” said Kelly Cunningham, senior fellow economist for SDI, described as an organization to improve the efficiency and effectiveness of the region’s public sector. The institute is funded by former San Diego mayoral candidate Steve Francis.

Another economic index compiled by University of San Diego economics professor Alan Gin found a tenth of 1 percent drop in April, the 12th time the index declined in the past 13 months.

, Mike Allen

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-