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Daily Dose: Economic Indicators Up Slightly

"The probability of a recession is probably less than 50 percent, but the probability is significant and is growing."

East County Patch editors are meeting with the congressman this afternoon, and we'd like to know what questions our readers would ask him. Leave your suggestions as a comment in this story or .

Economy

• San Diego County's index of leading economic indicators was up 0.2 percent in July, according to a report released Tuesday by the University of San Diego's Burnham-Moores Center for Real Estate.

The slight rise follows a dip of 0.2 percent in June, the first decline in 27 months.

USD Professor Alan Gin said worries exist about the possibility of a double-dip recession, both locally and nationally.

"The probability of a recession is probably less than 50 percent, but the probability is significant and is growing,'' Gin said.
  
"Consumer confidence continues to plummet as the drumbeat of bad news about the economy takes its toll,'' Gin said. "Particularly impacted are purchases of big-ticket items such as automobiles, furniture, housing ... as consumers tend to be more hesitant to take on debt when they are worried about their jobs and income.''

• Tuesday's release of the Standard & Poor's Case-Shiller Home Price Indices showed mixed results for real estate in San Diego County.

San Diego's index climbed 0.2 percent between May and June, but after seasonal adjustment, the figure actually dropped by 0.6 percent,
according to S&P. And when compared to June 2010, the index dropped by 5.3 percent.

City News Service contributed to these reports

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