Economic activity should continue to increase slightly in Southern California, according to new data just released. The Southern California Leading Economic Indicator, as calculated by economists at Cal State Fullerton, increased by 0.14% in the fourth quarter of 2009.
“It’s good news — at least it’s staying positive,” said Adrian Fleissig, a Cal State Fullerton professor who released the indicator. “But it’s not suggesting much of an increase.”
Fleissig takes into account national figures such as the real money supply, interest-rate spreads and the Standard & Poor’s 500 index. He also considers regional factors such as non-farm employment, the unemployment rate, building permits and the Pacific region consumer confidence index. The S&P 500, interest-rate spread, consumer confidence index and building permits all had a positive effect on the indicator.
This is the third consecutive quarter in which the indicator has increased.
The Economic Impact Of Los Angeles International Airport.
Los Angeles International Airport (LAX) is the #1 international gateway to Asia/Pacific. LAX is served by nearly 90 passenger and cargo airlines. International flights arriving at LAX from overseas make a substantial contribution to the economy of Southern California, adding $82.1 billion in total economic output, plus 363,700 direct and indirect jobs with annual wages of $19.3 billion in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura Counties, according to a study by the Los Angeles Economic Development Corporation.