The San Joaquin Valley Business Conditions Index advanced to 59.0 from October’s 58.2 — a range that points to strong growth. An index greater than 50.0 indicates an expansionary economy over the next three to six months, Fresno State News reported Monday, Dec. 4.
The index is a leading economic indicator from a survey of individuals making company purchasing decisions for firms in the counties of Fresno, Kings, Madera and Tulare. The index is produced using the same methodology as that of the national Institute for Supply Management.
Valley Economy Bottomed Out in August 2016
Since bottoming out in August 2016, the index has moved into a range indicating healthy economic growth ahead.
“This is the 15th straight month that the overall index has moved above growth neutral,” said Dr. Ernie Goss, research faculty with the Craig School of Business at Fresno State. “For a second consecutive month, the survey tracked weakness among non-durable goods producers, including food processors, in the region. However, gains for durable goods manufacturers more than offset this weakness.”
For more information, contact Goss at 559 278 2352.