An economic index for the central San Joaquin Valley rebounded in December to again suggest expansion in the coming months.
The San Joaquin Valley Business Conditions Index, produced by Fresno State's Craig School of Business, rose to 52.8 last month after it dipped to 48.6 in November. An index greater than 50 indicates a growing economy over the next three to six months. It was the 12th time in 13 months that the index was at 50 or higher.
Temporary hiring helped companies expand their output but reflects continued economic uncertainty in the region, said economist Ernie Goss, a research faculty member at California State University, Fresno. "Firms in wholesale trade, food processing and business services are expanding economic activity," he added. " Construction activity continues to expand at a steady but slow pace."
The index is based on a survey of company purchasing executives in Fresno, Madera, Kings and Tulare counties, and includes such factors as employment, wholesale prices, business confidence, inventory, imports/exports, new orders, sales and delivery lead time.