Steady Growth Seen for Region
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Southern California will eke out only a slight increase in economic growth in the next three to six months, according to an index to be released today.
Cal State Fullerton said its Southern California index of leading economic indicators rose 0.02% in the fourth quarter of 2005 from the third quarter. That was the smallest increase since a 0.23% rise in the fourth quarter of 2001. The index climbed 0.31% in the third quarter of last year.
The latest gain “suggests only a slight increase in economic growth” in the region, lagging behind growth for the nation as a whole, said Cal State Fullerton economist Adrian R. Fleissig, who compiled the index.
Three of the index’s seven components were positive, including the interest rate spread, the inflation-adjusted money supply and the Standard & Poor’s 500 stock index.
Negative components were the Pacific region consumer confidence index, regional unemployment, nonfarm employment and regional building permits.
The index projects economic activity for Los Angeles, Orange, San Bernardino, Riverside, Ventura and Imperial counties.
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