Valley Business Conditions Slump For Second Straight Month
Numbers released today from Fresno State's Craig School of Business show the San Joaquin Valley's economy is slowing. The San Joaquin Valley Business Conditions Index dropped for the second straight month in July, to 51.6, down from 55.4 in June.
The numbers remain above growth neutral, meaning the economy is still expected to grow in the next three to six months, businesses aren't as optimistic about the future as they were in June. The lower July numbers reflect a drop in new export orders and business confidence.
The survey is based on a survey of company purchasing executives in Fresno, Madera, Kings and Tulare counties and uses the same methodology as the national Institute for Supply Management.