FRESNO — After moving above growth neutral for 11 straight months, the San Joaquin Valley Business Conditions Index fell below the 50.0 threshold for November. The index, produced by Fresno State’s Craig School of Business, is a leading economic indicator from a survey of individuals making company purchasing decisions in the counties of Fresno, Madera, Kings and Tulare.
Overall, the November index sank to 48.6 from 51.0 in October. An index of greater than 50 indicates an expansionary economy over the course of the next three to six months.
“As a result of continuing economic uncertainty, companies in the area continue to expand output via temporary hiring. Firms in wholesale trade, food processing and business services are expanding economic activity. Construction activity continues to expand at a steady but slow pace,” said Dr. Ernie Goss, research faculty with the Craig School of Business.
The index uses the same methodology as that of the national Institute for Supply Management...