Modest Economic Expansion Is Forecast for the Southland
Southern California’s economy should grow modestly in the next three to six months, according to an indicator to be released today.
Cal State Fullerton said its Southern California index of leading economic indicators rose 0.37% in the third quarter compared with the previous quarter. The index had risen 0.32% in the second quarter.
The increase “continues to suggest a modest increase in economic activity” in the region, said Cal State Fullerton economist Adrian R. Fleissig, who compiled the indicator.
Five of the indicator’s seven components were positive, led by a “relatively large” increase in the Standard & Poor’s 500 stock index.
Also positive were the interest rate spread, the Pacific region consumer confidence index, regional unemployment and nonfarm employment.
Negative components were real money supply and regional building permits.
The index, developed to parallel the national index of leading economic indicators compiled by the Conference Board in New York, projects economic activity for Los Angeles, Orange, San Bernardino, Riverside, Ventura and Imperial counties.
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