Newspaper article The Florida Times Union

Jobless, Stocks Hit the Region; Area Indicators Dropped in January, UNF Says

Newspaper article The Florida Times Union

Jobless, Stocks Hit the Region; Area Indicators Dropped in January, UNF Says

Article excerpt

Byline: MARK BASCH

The economic outlook was mixed in January, with a local index of leading indicators falling after rising in both November and December. But national indicators rose in January for the second straight month.

The University of North Florida's Local Economic Indicators Project reported Thursday that its index of leading economic indicators for the Jacksonville area fell by 0.90 points in January to 102.50.

LEIP said the most significant negative indicators last month were an increase in new claims for unemployment insurance and a decline in local stock prices.

"It is a hopeful sign that consumer confidence rebounded, although slightly. But we are still concerned that the worst of the downturn is still ahead," said UNF economist Paul Mason, who coordinates LEIP.

Meanwhile, the U.S. index of leading indicators rose 0.4 percent in January, after a 0.2 percent increase in December, according to the Conference Board, a New York research organization. …

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