SD economic forecast gloomy

An index used to gauge the health of San Diego’s economy suffered its largely monthly decline on record in October, a University of San Diego economist reported Tuesday.

The Index of Leading Economic Indicators for San Diego County fell 2.3 percent in October, with every component measured down significantly during the month, according to Alan Gin, who compiles the index for USD’s Burnham-Moores Center for Real Estate.

The largest contributor to the index’s decline, which has fallen 30 of the past 31 months, was a drop in local stock prices and a surge in the number of initial claims for unemployment insurance.

Also down were building permits, consumer confidence, help wanted advertising and the outlook for the national economy.

The economy is being weighed down by ongoing problems in the real estate and financial systems that have spilled over into other sectors including, retail and auto sales, according to the index.

Gin’s report said the outlook for San Diego’s economy remains negative through the first half of next year. After that, it’s projected to stabilize.

“This downward spiral is projected to continue through the first half of 2009,” the index states.

“The economy is expected to stabilize in the second half of the year due to a combination of lower oil and gas prices, increased home sales and another stimulus package by the federal government.”

Related posts:

  1. Economic forecast remains negative
  2. Del Mar feels effects of weak economy
  3. Don’t let schools feel the economic pinch
  4. Gas prices drop 29.4 cents in week
  5. Gas prices rise for first time in eight weeks

Short URL:

Posted by Pat Sherman on Dec 2, 2008. Filed under Archives. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply



Bottom Buttons 1

Bottom Buttons 2

Bottom Buttons 3

Bottom Buttons 4

Bottom Buttons 5

Bottom Buttons 6





  • RSF Association Board Biz: It’s fire season: Be prepared
    The Rancho Santa Fe Fire Protection District (RSFFPD) was officially formed in 1946, in the aftermath of a devastating fire that took place in 1943 and destroyed brush, farmland and homes from Rancho Bernardo through Rancho Santa Fe, all the way to Solana Beach and Del Mar. Today the Fire District spans 38 square miles and protects nearly 30,000 residents. W […]
  • Rancho Santa Fe couple lead way in helping those with thyroid disorders
    Few people may know that Graves’ disease is one of the most common autoimmune diseases afflicting Americans today. Fewer still may know that the only national non-profit dedicated to its patients is headquartered in Rancho Santa Fe. The Graves’ Disease and Thyroid Foundation, co-chaired by Rancho Santa Fe residents Kathleen Bell Flynn and Steve Flynn, has be […]
  • Candidates seek election to three Rancho Santa Fe special district boards
    Seats on the boards of directors of three special districts that provide such services as water, fire protection, sewage treatment and landscape maintenance are on the ballot in the Nov. 4 election. The three special districts are the Santa Fe Irrigation District, the Rancho Santa Fe Fire Protection District and the Rancho Santa Fe Community Services Distric […]