10/17/2021

San Diego Economy Sees Slower Growth

San Diego County’s economy continued to expand in May, but the growth was the slowest since last year.

A report released Tuesday by the University of San Diego still points to gains in the job market, new residential construction and an overall improving national economy as factors behind the region’s expansion. However, local publicly traded companies did not fare well in May and consumer confidence dipped locally for the first time in 15 months.

The university uses those economic aspects to calculate its Index of Leading Economic Indicators, which grew 0.5 percent in May, slowest since October 2014, when it also grew by that same pace.

University of San Diego economist Alan Gin said he was not concerned by the slowdown.

“This is a solid report,” he said. “We might be a bit spoiled expecting things to shoot up by big amounts every month but being up moderately is good, too.”

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