Growth Streak Ends: USD Economic Index Falls in June
Tuesday, July 26, 2011
San Diego Business Journal -- Dragged down by declines in consumer confidence, reduced building permits and increased claims for unemployment insurance, an index measuring San Diego’s economy recorded its first drop in 27 months in June.
The 0.2 percent decline in the University of San Diego’s Index of Leading Economic Indicators wasn’t much, but sufficient for its compiler, USD economics professor Alan Gin, to be concerned.
“Economists usually look for three consecutive changes in one direction in a leading index as a signal of a turning point in an economy, so it remains to be seen whether this is a beginning of a trend or simply a one-month aberration,” Gin said. (Full story)