Thursday, October 5, 2006
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.