San Diego’s economy shows no apparent signs of slowing, based on the latest monthly index report.
The area’s leading economic indicators rose 0.4 percent in October, led by strong gains in the local stock prices and in the consumer confidence rating.
Alan Gin, a USD economics professor who compiles the index, said the breadth of the advance in October wasn’t as great as in September, but the outlook remains positive at least for the first half of 2000.
“The last leading indicators report of the 1990s finds the economy of San Diego County in great shape,” Gin said. “The forecast for the year 2000 is for continued growth in the local economy, although at a slower pace than in 1999.”
In October, local stock prices rose 1.2 percent, led by some double-digit gains of high-tech firms’ stocks, including Qualcomm, Inc.
The consumer confidence rating increased 1.12 percent, the second consecutive monthly increase after falling for an entire year.
The other measure that increased was unemployment insurance, where the initial claims during the month dropped, resulting in a positive gain to the index.
The two areas that dropped were building permits, which dropped 0.34 percent, and help-wanted advertising, down by 0.22 percent.