SAN DIEGO (CNS) - The Index of Leading Economic Indicators for San Diego County climbed 0.1 percent in November, the University of San Diego Burnham-Moores Center for Real Estate announced Thursday.
A strong employment gain and moderate increases in consumer confidence and help-wanted advertising offset declines in building permits, local stock prices and the outlook for the national economy, USD Professor Alan Gin said.
"While November's gain was small, it was still positive, so the outlook for the local economy remains for positive growth in 2013," Gin said.
The increase was for the third month in a row, following a 0.1 percent dip in August.
The professor said the "fiscal cliff" agreement was positive, but the deal reached by Congress included a 2 percent increase in payroll taxes, which will affect middle- and lower-class workers the most, because they spend a larger portion of their income.
Automatic federal spending cuts remain on the table, which could have "a big impact" on San Diego's economy in a few months, according to Gin.
He said the number of residential building permits issued in November shrunk for the first time in nine months. On the other hand, the number of initial claims for unemployment insurance were at their lowest since March
2008, a sign of an improving unemployment rate, he said.
The index stood at 122.8 in November, the highest since January 2008. By contrast, the index registered a low of 100.7 in March 2009, at the height of the recession.
In the wake of the Gate Fire, which ignited May 20, the Bureau of Land Management has issued new restrictions for Southern California counties, including San Diego.
Veterans are being honored across San Diego County during Memorial Day weekend and dozens of Boy Scouts and Girl Scouts were among those spending their Saturday placing American flags at burial sites at the Fort Rosecrans National Cemetery.
With thousands of San Diegans expected to celebrate the holiday weekend at the beach, lifeguards are on high alert and a have a few warnings for those headed to the water.
U.S. Sen. Kamala Harris, D-California, is scheduled to visit local Navy personnel in San Diego and Coronado next week, her office announced Saturday.
A 30-year-old Vista man was arrested for drunk driving and failure to yield Saturday morning after leading Carlsbad police on a high-speed pursuit that ended with the suspect crashing into a pole, according to authorities.
A man, possibly armed, and holed up inside a home in the Bay Park community for about four hours Saturday surrendered to police without incident.
Vacationing homeowners were hit by thieves in Mira Mesa, but thanks to a smartphone app, the crooks did not get away with it.
Signs warning people to stay out of the water are once again posted in Imperial Beach after a new spill from Mexico dumped hundreds of thousands of gallons of sewage into the Tijuana River - polluting the South Bay.
Two defense contractors were sentenced to prison Friday for conspiring to steal more than $3 million worth of medical equipment from Camp Pendleton that the military had planned to ship overseas to treat injured Marines.