Thursday, January 3, 2013
SAN DIEGO The University of San Diego's index of leading economic indicators continues to show slow but steady economic growth in the coming year. The index rose a tenth of a percent in November.
The University of San Diego's index of leading economic indicators continues to show slow but steady economic growth in the coming year.
The job market pushed up two of the indicators during the next to the last month of the year. USD economist Alan Gin said first time jobless claims fell and help wanted advertising rose. Consumer confidence was also up in November.
On the other side of the ledger, building permits, stock prices and the view of the national economy all fell. Even so, Gin said the positives outweighed the negatives and that bodes well for next year.
"Positive growth in 2013, not spectacular, but solid. And probably better than what we've done in 2012 which was a pretty good year," said Gin.
There's also a lot of economic uncertainty that could hurt the local economy, according to Gin. Federal budget cuts and Europe's financial problems could still snuff out the region's gradual economic recovery.