The USD Burnham-Moores Center for Real Estate’s Index of Leading Economic Indicators rose 0.5 percent in March, reaching a third consecutive all-time high, the university reported Monday.
Initial claims for unemployment insurance, local stock prices, consumer confidence, help-wanted advertising and the
outlook for the national economy were all positive. Only building permits showed weakness.
“The outlook for the local economy thus continues to be positive at least through the end of 2018,” said Professor Alan Gin.
Last week the chamber reported its monthly Business Outlook Index was unchanged at 22.5 in March, well above the neutral level of zero. The index had been below 15 as recently as last fall.
“County businesses are humming at the end of Q1, which marks the fourth consecutive month the BOI is in the solidly positive 20-point range,” said Tom Wornham, chief executive officer of CalPrivate Bank, the sponsor of the forecast.
“The continued optimism extends to all four index metrics with expectations about hiring, revenue, hours offered to workers, and business conditions all holding firm,” he added.