Brighter Outlook for San Diego Economy

San Diego’s economy seems to be on the rise thanks to a growing construction agency and a steadily improving job market.

Alan Gin, an economist from the University of San Diego, collected the information for the San Diego region’s index of leading economic indicators, which rose almost a full point last month. He explained that the change resulted from a boost in multi-family building permits and less first-time unemployment claims. The economic recovery is expected to continue throughout the area.

“I think we’ll have a good job growth,” Gin said. “I think the housing market will continue to be strong. And as a result, I think the unemployment rate is going to drop locally. It’s already down to about 8 percent.”

The only indicator that fell over the past month, according to Gin, was consumer confidence. He postulates that the decrease is a result of rising gas prices, new payroll taxes and political gridlock.

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