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Overall USD Index Slips, Building Permits Rise

The University of San Diego Index of Leading Economic Indicators dropped in December, for the 20th month out of 21, the university reported on Jan. 31.

The index dropped 1 percent to 128.8.

Consumer confidence and help-wanted advertising showed significant drops from November while unemployment insurance, stock prices and the national economy reported declines of a lesser degree.

Building permits were up, though, by 0.74 percent.

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Economist Alan Gin, a USD professor, compiles the index.

“Although the local economy is not in a recession in the sense that there has been a loss of jobs or a drop in Gross Regional Product, economic activity has slowed considerably,” said a summary released with the index.

, Jaimy Lee

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