Stock Market Hit SD Economy in June

UT San Diego -- Stock prices for San Diego-based companies slid in June amid talk that the Federal Reserve would scale back its economic stimulus.

That caused a monthly index that measures San Diego's economic growth to turn in its smallest gain - 0.1 percent - since November 2012. The good news is that stock prices have rebounded in July. The question moving forward is whether the rest of the economy will keep up.

The study released Tuesday by the University of San Diego factors in various indicators to measure the local economy, such as the number of building permits issued, unemployment insurance filings and help-wanted ads. In June, the index rose to 126.6, the highest since it recession-related bottomed out 100.69 in March 2009. (Full Story