CSU Bakersfield -- September 10, 2003
County's Economy Is Showing Signs Of Improvement According To California
State University, Bakersfield
Kern County’s economy is showing signs of improvement, according
to the latest issue of the Kern Economic Journal, published by California
State University, Bakersfield.
“Businesses and households are cautiously optimistic about current
and future economic conditions,” said Abbas Grammy, CSUB economics
professor and publisher of the journal. “The economy has created
additional total and per capita income, and lower mortgage rates have
fueled the housing demand, resulting in higher home prices and greater
Grammy also noted that inflation has remained low, and investors are
recovering from earlier losses in the stock market.
In other trends reported in the Journal:
- The Business Outlook Index continued to move upward in the second
quarter of 2003 after bottoming out in the fourth quarter of 2002.
"The increase indicates that business managers have become slightly
optimistic about local business conditions," Grammy said.
- Bakersfield's Consumer Sentiment Index rebounded sharply in the
second quarter. “The increase was due to greater optimism about
the future rather than to improvement over the recent past,”
said economics professor Mark Evans. “This is clearly good news.”
The latest issue also includes a detailed look at the impact of the
state budget crisis on Kern County’s budget, an assessment of
“Clean Air and Job Creation in the San Joaquin Valley,”
a labor-market assessment of Kern County, and a look at Edwards Air
Force Base’s impact on Kern County’s economy.
The Kern Economic Journal is a quarterly publication focusing on local
economic trends and developments. The journal provides the community
with economic information produced by the CSUB Economics Department.
"What we provide is local economic news," Grammy said. "This
helps local business people make better decisions. We study local economic
trends to determine how the local economy is progressing."
A subscription to the Kern Economic Journal costs $60 per year, and
$85 per year for both hard copy and online, including access to the
For a free initial copy or more information about any of the studies
published in the journal, please call (661) 664-2466, or e-mail Grammy
at firstname.lastname@example.org. You can also
visit the journal's website at www.csub.edu/kej.
CONTACT: Mike Stepanovich, 661/664-2456, email@example.com