National University debuts economic index for Fresno, Madera

A National University economist has debuted a new monthly analysis of leading economic indicators for Fresno and Madera counties that shows a positive trend of at least 24 months of growth.

Kelly Cunningham, senior economist with the National University System Institute for Policy Research, said the local index considers factors including residential building permits issued in the two-county region, as well as initial claims for unemployment insurance in the area. The index also includes consumer confidence at the state and national levels, statewide measures of online help-wanted ads and stock prices for California-based companies. It is intended to forecast economic performance for the coming six to nine months.

The June index released Tuesday for the two counties was 126.4, up 0.4 percent after gains of 1.5 percent in May and 1.9 percent in April, Cunningham reported. The index was 100 in June 2013. “Despite the relatively low gain in June, the LEI index for the Fresno-Madera metro area continues at least 24 months of continuous upward movement,” he said. “The outlook remains positive for the rest of the year and into 2016.”

This story was originally published September 2, 2015 at 3:31 PM with the headline "National University debuts economic index for Fresno, Madera."