San Diego’s Economy Declines for Fifth Straight Month

The University of San Diego’s index of leading economic indicators continued a gradual downward slide last month. Economist Alan Gin says a big dip in consumer confidence and a surge in unemployment claims pushed the index down.   It’s the fifth month in a row that the numbers have declined. Gin says the economy is headed for a rough patch.  

Gin: The forecast is that the end of the year might be a little weak. And that may carry on into 2007 as well.

Gin says the only economic sector that showed a gain was help wanted advertising. He says that indicates more jobs are becoming available.   The index also tracks building permits, local stock prices and the national economy.