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CSUF: Regional economy sees improvement
The Southern California Leading Economic Indicator suggests activity will rise in next 3 to 6 months.
By Kristen SchottPublished: May 28, 2010 09:37 AM
Courtesy of FotoliaEconomic activity is projected to rise in Southern California in the next three to six months, according to a new report from the Institute for Economic and Environmental Studies at Cal State Fullerton's Mihaylo College of Business and Economics.
The Southern California Leading Economic Indicator jumped by 0.87 percent in the first quarter of the year, compared to the fourth quarter. The number rose to 98.15 in the period, up from 97.3 in the prior quarter.
It's the second consecutive quarterly increase in the measurement, according to the report. In addition, civilian employment in the region rose 0.46 percent. It's the first increase since the third quarter of 2007.
The Southern California index includes the Orange, L.A., San Bernardino, Riverside, Ventura and Imperial counties. The indicator is made up of both regional and national data, such as real money supply, interest rates, Standard & Poor's 500 stock index, nonfarm employment and the unemployment rate, building permits and Pacific region consumer confidence.
Measures positively affecting the indicator in the first quarter include a jump in the Standard & Poor's index, Pacific region consumer confidence, regional building permits and nonfarm employment, according to the report.
Nationwide, U.S. economic activity, which is based on growth in the real Gross Domestic Product, is also expected to improve in the next three to six months.
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Courtesy of Fotolia The Southern California Leading Economic Indicator jumped by 0.87 percent in the first quarter of the year, compared to the fourth quarter. The number rose to 98.15 in the period, up from 97.3 in the prior quarter. It's the second consecutive quarterly increase in the measurement, according to the report. In addition, civilian employment in the region rose 0.46 percent. It's the first increase since the third quarter of 2007. The Southern California index includes the Orange, L.A., San Bernardino, Riverside, Ventura and Imperial counties. The indicator is made up of both regional and national data, such as real money supply, interest rates, Standard & Poor's 500 stock index, nonfarm employment and the unemployment rate, building permits and Pacific region consumer confidence. Measures positively affecting the indicator in the first quarter include a jump in the Standard & Poor's index, Pacific region consumer confidence, regional building permits and nonfarm employment, according to the report. Nationwide, U.S. economic activity, which is based on growth in the real Gross Domestic Product, is also expected to improve in the next three to six months. Related headlines Local homebuilders say 'worst is over' Median home prices rise year over year in county 83 percent of consumers more likely to support local firms, says WebVisible |
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