An index of economic indicators for the central San Joaquin Valley dipped in January, but still pointed to the prospect of economic growth in early 2014.
The San Joaquin Valley Business Conditions Index, prepared by economist Ernie Goss for Fresno State's Craig School of Business, fell from a score of 52.8 in December to 50.8 in January. A score of 50 or higher suggests an expansionary economy over the coming three to six months.
Goss said the index, which is based on a survey of company presidents or purchasing executives in the region, suggests that business leaders are worried about California's ongoing lack of rainfall. "More and more businesses are reporting negative economic impacts from the drought," he said.
The survey considers factors including employment, wholesale prices, business confidence, inventories, imports and exports, orders and sales, and delivery lead time.