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Economic Development View Other Metric Periods
January 2018 Metrics  

Overview:
  • Cal State University Fullerton’s Business Expectation Indicator (OCBX) made large gains in the second quarter of 2012 before falling to more conservative levels for the second half of 2012. The index currently sits at 92.4 in Q2 2017 – a slight 5.5 index point decrease since the previous quarter and 7.1 points above the Q2 2016 reading of 85.3. While below recent peaks, this represents 42.4 points above the 50-point indicator of expansion, signifying that Orange County business executives are moving through 2017 on a positive note.
  • The California Consumer Sentiment index for Q4 2017 was measured at 107.9, a 2.4 point increase compared to a year ago, and an increase of 1.2 points compared to the previous quarter’s revised reading of 106.7. Despite a dip in 2016, the consumer sentiment reading has recovered dramatically with five of the past six readings being measured above 100, indicating a continued sense of optimism for Orange County businesses. Looking at the sentiments for current and future conditions, after the large jump in Q1 2017 to a revised reading of 121.7 for current conditions, the Q4 2017 reading for current conditions measured 110.3 while the future conditions sentiment increased over the same time period, growing from 100.3 in Q1 2017 to 104.3 in Q4 2017. Overall, both consumer sentiments for current and future conditions indicate optimism.
  • The total number of passengers going through John Wayne Airport increased by 6,456 compared to November 2017 and increased by 28,495 compared to December 2016, reaching 899,451 total passengers in December 2017. Total air cargo tons shipped increased by 203 tons compared to November 2017, reaching 1,791 tons in December 2017 and total airplane operations (take-offs and landings) decreased by 1,171 compared to November 2017, reaching 23,592 in December 2017 representing an increase of 2,326 operations compared to the year before.
  • Orange County car and truck sales increased in November 2017 with registrations totaling 7,434 cars and 8,071 trucks – a month-over-month increase of 493 cars and 920 trucks since October 2017.
  • In December 2017, the Port of Los Angeles recorded a total 779,211 containers – a decrease of 145,015 containers compared to November 2017 and a decrease of 17,325 containers compared to the December 2016. The Port of Long Beach estimated 696,918 containers used in December 2017, an increase of 84,259 compared to November 2017’s activity levels yet an increase of 147,989 compared to December 2016.
  • The vitality of Orange County’s manufacturing industry is monitored by Chapman University’s manufacturing composite index, measuring growth in the industry sector by monitoring changes in employment, production, commodity prices, and new orders. Orange County’s composite index decreased going into Q1 2018 to 60.5 compared to 66.3 in Q4 2017 and remains below the index score of 63.2 in Q1 2017. The state-level composite index experienced a similar decrease in Q1 2018, hitting 61.8 compared to 64.9 in Q4 2017.
  • Approximately 182 Orange County businesses were sold in December 2017, 42 more businesses than the previous month and 69 more compared to December 2016. Los Angeles saw a total of 439 businesses sold in December 2017 compared to 376 businesses sold in November 2017, an increase of 63 businesses over the past month and an increase of 71 businesses when compared to December 2016.
  • December 2017 saw 291 bankruptcy filings in Orange County, 103 less than the previous month and 88 less bankruptcies compared to December 2016. While bankruptcy filings have seen a dramatic decrease since starting in mid-2012, this rate of decrease seems to have stabilized with the number of Orange County bankruptcies averaging 523 per month since January 2014 and averaging 483 since January 2015.
  • Orange County office vacancy rates increased during Q4 2017, growing to 10.9 percent. At the same time, Orange County's industrial vacancy rates experienced a small decrease to a Q4 2017 rate 1.7 percent from a Q3 2017 rate of 1.8 percent. Net absorption in office space for 2017 YTD was recorded at 1,145,207 square feet. Industrial absorption was negative at -1,421,380 square feet for YTD Q4 2017. Average asking lease rates for Orange County office space in Q4 2017 was measured at $2.88 per square foot while industrial rates were measured at $0.88 per square foot. Currently, CBRE estimates that there is 982,000 square feet of office space currently under construction and 1,146,754 square feet of industrial space under construction.
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Table of Contents (click to jump to a specific measure):



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Orange County Composite Index Expansion: > 50
Orange County Composite Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The Orange County Composite Index is a measure of the results of surveys of conditions for manufacturing in Orange County according to purchasing managers. A value of 50 for the composite index shows a general expansion of the manufacturing economy of the county, and a value below 50 shows a decline.

Source: Chapman University



Orange County Business Expectations - OCBX Expansion: > 50
Orange County Business Expectations Survey: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The Orange County Business Expectations Survey (OCBX Index) is a measure of future business expectations by Orange County firms at the time of the survey. A value of 50 for the composite index shows a general expansion of the county’s ability to grow, and a value below 50 shows a decline.

Source: California State University, Fullerton



California Consumer Sentiment Composite
Index Optimistic:Greater Than 100

California Consumer Sentiment : Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator measures consumer sentiment for residents of California; indicators below 100 indicates a larger percentage of pessimistic residents compared to optimistic residents. The California Composite Index is generated based on indices including consumers’ outlook on current and future economic conditions and an index measuring consumers’ spending plans.

Source: Chapman University



California Consumer Sentiment Index
Current Vs. Future Sentiment
Optimistic: Greater Than 100

California Consumer Sentiment Regarding Current and Future Conditions: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator measures consumer sentiment for residents of California. The California Index measures consumers’ outlook on current and future economic conditions, a component determining the composite index. An index below 100 indicates a larger percentage of pessimistic consumers compared to optimistic consumers.

Source: Chapman University



John Wayne Airport (SNA) 2007-2017 Monthly Total Passengers
California Consumer Sentiment Regarding Current and Future Conditions: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator shows the total number of monthly passengers boarding at John Wayne Airport by month from 2007 to 2017.

Source: John Wayne Airport



John Wayne Airport (SNA) 2007-2017 Monthly Air Cargo Tons
John Wayne Airport Air Cargo Tons: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator shows the total monthly tonnage of air cargo transported through John Wayne Airport from 2007 to 2017.

Source: John Wayne Airport



John Wayne Airport (SNA) 2007-2017 Total Air Operations
John Wayne Airport Total Air Operations: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator shows the total number of tower operations (take-offs and landings) at John Wayne Airport by month.

Source: John Wayne Airport



Total Containers at the Ports of Long Beach and Los Angeles 2010-2017
Total Containers at the Ports of Long Beach and Los Angeles: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator shows the total number of TEUs (20-foot-equivalent unit or 20-foot-long cargo container) loaded inbound, loaded outbound and current empty containers at the ports of Long Beach and Los Angeles.

Source: Port of Long Beach, Port of Los Angeles



Container Types, Port of Long Beach Annual Averages, 2009-2017
Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163
This indicator shows the annual average of TEUs (20-foot-equivalent unit or 20-foot-long cargo container) itemized by inbound, outbound and empty containers at the Port of Long Beach.

Source: Port of Long Beach



Container Types, Port of Los Angeles Annual Averages, 2009-2017
Port of Los Angeles By Type : Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator shows the annual average of TEUs (20-foot-equivalent unit or 20-foot-long cargo container) itemized by inbound, outbound and empty containers at the Port of Los Angeles.

Source: Port of Los Angeles



Business Sales by Region, 2010-2017
Business Sales 2008-2010 by Region: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator tabulates the number of businesses sold by entrepreneurs in each region.

Source: BizBen



Orange County: New Retail Car and Light Truck Registration
Business Sales 2008-2010 by Region: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator compares the number of automobiles sold by auto dealers in Orange County, categorized as cars or light trucks.

Source: Orange County Auto Dealers Association



Orange County: Total Bankruptcies - 2009-2017
Business Sales 2008-2010 by Region: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator compares the number of bankruptcies since 2009 at the Santa Ana Court, Central District of California.

Source: United States Bankruptcy Court



Orange County: Fictitious Name Filings 2009-2017
Business Sales 2008-2010 by Region: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator compares the number of fictitious name filings in Orange County since 2009, as recorded by the Orange County Clerk-Recorder Office.

Source: Orange County Clerk Recorder



California Manufacturing Purchasing Managers
Composite Index Expansion: > 50

California Manufacturing Purchasing Managers Composite Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163
This Index is a measure of the results of surveys of California manufacturing purchasing managers. A value of 50 for the composite index shows a general expansion of the manufacturing economy of the state, and a value below 50 signifies a decline.

Source: Chapman University



California Indicies for Industry Groups Expansion > 50
California Indices for Industry Groups: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This chart shows the growth rate for Durable and Non-Durable manufacturing over time. A value of 50 for the index shows a general expansion of the category, while a value below 50 indicates a decline in growth. The industries are classified according to the North American Industry Classification System (NAICS).

Source: Chapman University



California Manufacturing Purchasing Managers
Production Index Expansion: > 50

California Manufacturing Purchasing Managers Production Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The Production Index measures the survey results of California manufacturing purchasing managers. A value of 50 for the index shows a general expansion of the manufacturing economy of the state, and a value below 50 shows a decline. The industries are classified according to the North American Industry Classification System (NAICS).

Source: Chapman University



California Manufacturing Purchasing Managers
Employment Index Expansion: > 50

California Manufacturing Purchasing Managers Employment Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This chart shows the Employment Index for purchasing managers in manufacturing over time. A value of 50 for the index shows a general expansion of the manufacturing economy of the state and a value below 50 shows a decline. The industries are classified according to the North American Industry Classification System (NAICS).

Source: Chapman University



California Manufacturing Purchasing Managers
New Orders Index Expansion: > 50

California Manufacturing Purchasing Managers New Orders Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This chart shows the New Orders Index over time. A value of 50 for the index shows a general expansion of the manufacturing economy of the state and a value below 50 shows a decline. The industries are classified according to the North American Industry Classification System (NAICS).

Source: Chapman University



California Manufacturing Purchasing Managers
Commodity Price Index Expansion: > 50

California Manufacturing Purchasing Managers Commodity Price Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This chart shows the Commodity Price Index over time. A value of 50 for the index shows a general expansion of the manufacturing economy of the state and a value below 50 shows a decline. The industries are classified according to the North American Industry Classification System (NAICS).

Source: Chapman University



Orange County Office Vacancy Rate
Orange County Office Vacancy Rate: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The following is a chart displaying the vacancy rate of local office properties, showing the percentage of properties lacking a current tenant per quarter.

Source: CBRE Research



US Office Vacancy Rate
US Office Vacancy Rate: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The following is a chart displaying the vacancy rate of office properties in the United States, showing the percentage of properties lacking a current tenant per quarter.

Source: CBRE Research



Orange County Office Absorption and Overall Asking Rent
Orange County Office Completion vs. Absorption: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The chart below tracks the absorption of square footage by new tenants over time.

Source: CBRE Research



Orange County Industrial Vacancy Rate and Asking RentOrange County Office Asking Rents: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This graph measures the vacancy rate of properties in Orange County on a quarterly basis, showing the percentage of properties lacking a current tenant.

Source: CBRE Research



US Industrial Vacancy Rate
Orange County Industrial Vacancy Rate: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

Charted below is the vacancy rate of properties for the United States, showing the percentage of properties per quarter that lack a current tenant.

Source: Newmark Grubb Knight Frank



Orange County Industrial Leasing Activity
US Industrial Vacancy Rate: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163
Graphed below is the completion and absorption of square footage of space by new tenants over time.

Source: CBRE Research
Developed and Maintained in partnership with Orange County Business Council
The Orange County Workforce Investment Board is an equal opportunity entity. Auxiliary aids and services are available upon request to individuals with disabilities.
TDD line: (714) 834-7163