The University of San Diego‘s index of leading economic indicators posted it’s tenth consecutive increase in March, signalling strong growth ahead for the local economy.
The Burnham-Moores Center for Real Estate said the index rose 1.3 percent in March. It was the third month in a row in which all six components were positive.
Initial claims for unemployment insurance, help wanted advertising, and building permits led the way with sharp gains, while consumer confidence, local stock prices, and the outlook for the national economy were up more modestly.
“This signals strong growth in the local economy through the rest of the year and into early 2016 at the least,” according to the report. “Despite concerns about regulations, taxes, and the cost of housing among other issues, California had the sixth best employment growth rate of all the states for the year that ended on March 31.
The authors also noted that the worldwide decline in oil prices “reduces the ability of states like Texas to lure companies away from California.”
