The University of San Diego‘s local index of leading economic indicators rose by 0.4 percent in June, though it was the smallest increase in almost a year.
Economist Alan Gin at the Burnham-Moores Center for Real Estate noted that the number of declining components matched the number of advancing ones for the first time in a year.
“But the drops in the declining components were small and could easily turn upward in the months ahead,” he wrote in his report, adding that “the outlook for the local economy remains strong for the rest of the year and likely through at least the first half of 2016.”
In particular, the San Diego job market remains strong, with year-over-year employment up by 38,500 positions, according to the report. Residential building permits were also up, showing a 28 percent increase in the first half of the year.
