Southern California's economic growth should increase modestly over the next three to six months, according to an indicator to be released today.
Cal State Fullerton said its Southern California index of leading economic indicators rose 0.25% in the first quarter, after a 0.16% gain in the fourth quarter of 2004. By contrast, the Conference Board's index of leading U.S. economic indicators posted its fourth straight monthly decline in April.
That suggests that "more growth is expected here for the next three to six months compared to the U.S." as a whole, said Cal State Fullerton economist Adrian R. Fleissig.
Six of the seven components of the Southern California index showed growth, led by relatively large gains in building permits and regional nonfarm employment. The only negative component was an increase in regional nonfarm unemployment.
The index projects economic activity for Los Angeles, Orange, San Bernardino, Riverside, Ventura and Imperial counties.