Chad Deal noon, June 24
Gin's Lead Indicators Still Rising Moderately
The lead indicators of the San Diego economy, compiled by Alan Gin of the University of San Diego, rose to 109.7 in June from 109.5 in May. The indicators have risen each month since March of 2009 when the level was 100.7. Consumer confidence, building permits and help wanted advertising moved in a favorable direction, while initial unemployment claims, stock prices, and the national economy moved downward. The consumer confidence number more than doubled from May. Nationally, consumer confidence was not doing so well at the time, and now has plunged to extremely low levels. It will be interesting to see whether Gin's June level was an anomaly, or whether it can be said that San Diegans are more confident than their brethren around the nation.