Survey: San Diego's Economy Solid in July
Monday, September 2, 2013
U-T San Diego-- July was one of 2013's best months for San Diego's economy, says a survey by the University of San Diego.
The monthly study, called the Index of Leading Economic Indicators, weighs various areas of the economy, including stock prices, unemployment insurance claims, and new building permits. It then formulates an index based on those factors to measure growth.
Last month, a jump in permits issued for new residential buildings and in consumer confidence pushed the index to 127.5, its highest point since bottoming out at 100.7 in March 2009. The 0.7 percent jump on the index from June was also the third biggest of 2013, and a big boost from its June growth of 0.1 percent.
"There's no sign of a downturn ahead," said Alan Gin, a USD economist who authors the study. Gin said he expected positive and solid growth for the upcoming year. He said he'd consider a jump of 1 percent or greater on the index to be a spectacular month. (Full story)