Page 2 - Reedley Exponent 10-18-18 E-edition

The Reedley Exponent A2 Thursday, October 18, 2018
Valley’s economic index dips for third consecutive month
Contributed
The San Joaquin Valley Business Conditions Index fell in September for the third straight month, but re- mained above growth neutral for the 25th consecutive month — pointing to slow, healthy growth in the next three to six months.
The September index was at 52.9, falling from August’s 55.1. An index greater than 50 indicates an expansionary economy.
The index is a leading economic indicator from a survey of individu- als making company purchasing de- cisions for firms in the counties of Fresno, Kings, Madera and Tulare. The index is produced using the same methodology as that of the national Institute for Supply Man-
agement.
“Both durable and non-durable
goods manufacturing reported solid gains for the month,” said Er- nie Goss, research faculty with the Craig School of Business at Fresno State. “As in recent months, con- struction activity in the San Joaquin Valley continued to expand at a very healthy pace. I expect this pace to remain strong for the next three to six months.”
For October, survey participants were asked how tariffs were affect- ing their business operations. About one-third of firms reported that tar- iffs and trade battles were having negative impacts on sales to, and purchases from, abroad. Despite this negative fallout from tariffs, six of 10 (60.9 percent of) businesses
supported either raising tariffs or leaving current China trade tariffs in place.
Employment: The employment gauge moved lower to 52.5 from 55.0 in August. “The San Joaquin region has experienced strong job growth at 1.8 percent over the past year, or above the nation’s 1.7 per- cent expansion over the same period of time. I expect the region to con- tinue to add jobs, but at a somewhat slower pace for the next three to six months,” Goss said.
Wholesale prices: The prices- paid index, which tracks the cost of purchased raw materials and sup- plies, climbed to 68.5 from August’s 67.6, indicating modest inflationary pressures at the wholesale level. “I expect rising tariffs, and trade re-
strictions to continue to boost whole- sale and consumer inflation growth above the Federal Reserve’s target. This trend has already pushed con- sumer inflation higher. As a result, in my judgment, the Federal Re- serve’s interest rate setting com- mittee will raise short-term interest rates by one-quarter of one percent- age point (25 basis points) at their meeting on Dec. 19,” Goss said.
Business confidence: Looking ahead six months, economic opti- mism, as captured by the business confidence index, climbed to 62.8 from August’s 62.5. “Healthy profit growth and still attractive interest rates boosted business confidence,” Goss said.
Inventories: The inventory index rose above growth neutral for Sep-
tember. The index, which reflects the growth or decline in raw mate- rials and supplies, increased to 50.6 from 45.3 in August.
Trade: The new export orders in- dex fell to 43.1 from August’s 49.9, while the import index sank to 40.6 from 44.9 in August. “More than one in three businesses, or 34.8 percent, indicated that tariffs and trade bat- tles were having negative impacts on sales to, and purchases from, abroad,” Goss said.
Other components: Other com- ponents of the September Business Conditions Index were: new orders at 52.0, down from 59.5 in August; production or sales at 53.2, down from August’s 61.3; and delivery lead time at 56.2 up slightly from that month’s 54.5.
Record attendance
at Big Fresno Fair
A dandy Diaper Derby
Contributed
The Big Fresno Fair, which ran from Oct. 3 to 14, set a new attendance record during its 12-day run in 2018.
This year’s fair atten- dance was 632,410, a 3.84 per- cent increase over last year and a new record for a 12-day fair in Fresno. Those record- setting crowds enjoyed the fair to its fullest, resulting in a 4.2 percent increase in con- cessions consumed.
The Junior Livestock Auctions on Oct. 6 and Oct. 13 also experienced a record year with resounding support from the community for the young 4-H and FFA members who were showing animals.
While add-ons were still being processed as of Oct. 18, total sales were estimated to be in excess of $945,000,
COUNCIL Continued from page A1
The other item discussed by council was the appro- priation of nearly $175,000 in multiple capital funds to pave way for construction and improvements to the Cricket Hollow boat launch facility. Robertson said the added time to start work on the boat launch is to make sure it is done in December — usually a time of the low- est level of water flow in the Kings River.
which is up from 2017’s auc- tion totals. Students from Reedley, Sanger, Parlier and Orange Cove participated in ag-related livestock events.
The highlight of the Ju- nior Livestock Auction was when 16-year old Sierra FFA student, Hayden Tarr, was awarded the Supreme Grand Champion and the Supreme Reserve Grand Champion market hog. He then de- cided to donate 100 percent of the sales from his second place finisher to the Central Valley Honor Flight, collect- ing $36,000 with add-ons still coming in to support this philanthropic effort.
John Alkire, CEO of the fair, said Tarr’s generosity was greatly appreciated.
“What this young man
See FAIRonpageA3
City Manager Nicole Zieba said that the city has had a difficult time dealing with the California Division of Boats and Waterways. She said there was no additional grant money from the state available to the city.
“Our choice here is to do the project and fill in the gap with about $175,000 of our own money, or not do the project and give up about three-quarters of a million of state money.” Zieba said.
The council approved both items on 5-0 votes.
Obituaries
Jacob Brandt
Jacob Brandt of Reed- ley died Oct. 4 in Reedley. He was 96.
Mr. Brandt worked as a carpenter.
He is survived by three grandchildren.
A graveside service will be at 10 a.m. Thurs- day, Oct. 25, at the Reedley Cemetery Memorial Build- ing. A memorial service will be at 11 a.m. Thurs- day, Oct. 25, at Sierra View Homes.
The dining room at Sierra View Homes Retirement Community was filled with smiling babies as well as residents during the annual Diaper Derby held on Oct. 12. The event was sponsored by the Reedley Senior Commission, Inc. and Sierra View Homes.
Babies from ages 6 to 12 months participated and cash prizes for first, second and third places were awarded to the fastest baby who crawled across the finish line.
TOP: Excited parents celebrate as their baby crawled across the finish line.
ABOVE LEFT: An unidentified baby smiled as he crawled across the finish line.
ABOVE: A mother encourages her baby to crawl toward her while Sierra View Homes residents watch the proceedings.
Photos by Juanita Adame / The Exponent
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