‘Gindex’ Shows San Diego At Risk For Double-Dip Recession
Tuesday, September 27, 2011
KPBS -- The USD Index of Leading Economic Indicators showed a troubling drop for the month of August. The index fell in August by 1 percent, prompted by large declines in consumer confidence and the value of San Diego company stocks.
Alan Gin is an economics professor at the University of San Diego and he compiles the index. Gin said a drop of a full percentage point is very significant.
"This is the biggest drop that we've had since March of 2009," he said. "And it's a little bit worrisome because the index has been down two of of the last three months, so this might signal that we might have some rough times ahead." (Full Story)