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March 2017 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 84.4 in Q4 2016 – a slight 5.0 index point increase since the previous quarter and 0.6 points above the Q4 2015 reading of 83.8. While below recent peaks, this represents 34.4 points above the 50-point indicator of expansion, signifying that Orange County businesses executives are moving through 2016 on a slightly positive note.
  • California’s Consumer Sentiment Composite Index registered a large jump recently, reversing previous downward trends. The Q1 2017 index indicating consumer confidence in the state economy is 111.4, a massive increase compared to a year ago, and an increase of 5.9 points compared to the previous quarter’s revised reading of 105.5. Despite a dip in 2016, the consumer sentiment reading has recovered dramatically with the past three readings registering scores consistently above 100, indicating a continued sense of optimism for Orange County businesses. Optimism on current conditions registered another massive jump during Q1 2016, increasing from a revised reading of 112.3 in Q4 2016 to its current reading of 124.4. Consumer sentiment on future conditions, meanwhile, registered a smaller increase compared to the previous quarter, growing from its revised reading of 96.4 in Q4 2016 to its current reading of 101.8.
  • In January 2017, total passengers going through John Wayne Airport decreased by 77,182 compared to December 2016 yet increased by 9,526 compared to January 2016, reaching 793,774 total passengers in January 2017. Total air cargo tons shipped increased by 518 tons compared to December 2016 reaching 2,012 tons in January 2017 and total airplane operations (take-offs and landings) decreased by 1,150 compared to December 2016 reaching 20,116 in January 2017 representing a decrease of 1,854 compared to the year before.
  • Orange County car and truck sales increased in January 2017 with registrations totaling 8,847 cars and 8,415 trucks – a month-over-month increase of 863 cars and 1,077 trucks since December 2016.
  • In February 2017, the Port of Los Angeles recorded a total 625,381 containers – a decrease of 201,259 containers compared to January 2017 and a decrease of 88,340 containers compared to the February 2016. The Port of Long Beach estimated 498,311 containers used in February 2017, a decrease of 84,378 compared to January 2017’s activity levels and a decrease of 63,101 compared to February 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 stagnated somewhat going into Q4 2016 growing to 57.0 compared to 56.5 in Q3 2016 and 56.4 in Q4 2015. The state-level composite index experienced an increase in Q4 2016, hitting 59.7 compared to 59.3 in Q3 2016.
  • Approximately 144 Orange County businesses were sold in February 2017, 8 more businesses than the previous month and 21 more compared to February 2016. Los Angeles saw a total of 387 businesses sold in February 2017 compared to 443 businesses sold in January 2017, a decrease of 56 businesses over the past month yet an increase of 22 businesses when compared to February 2016.
  • February 2017 saw 390 bankruptcy filings, a total of 78 cases less than the previous February and 4 less than in January 2017. While bankruptcy filings saw a dramatic decrease since starting in mid-2012, this rate of decrease seems to have stabilized with the number of Orange County bankruptcies averaging 545 per month since January 2014 and averaging 500 since January 2015.
  • Orange County office vacancy rates decreased during Q4 2016, falling from a revised 10.18 percent in Q3 2016 to 11.20 percent in Q4 2016. At the same time, Orange County's industrial vacancy rates experienced a decrease to a Q4 2016 rate 2.00 percent from a revised Q3 2016 rate of 2.30 percent. Net absorption in office space for 2016 YTD was recorded at 976,150 square feet compared to 1,473,883 as of Q4 2015. Industrial absorption registered similar rates with 2,000,000 square feet being absorbed for YTD Q4 2016 compared to 2,400,000 square feet being absorbed for YTD Q4 2015.
  • As the both the residential and commercial real estate markets continue to recover, Orange County continues to see gradual increases in asking rental rates at both office and industrial properties. Office asking rents in Orange County have increased by $.019 per square foot compared to last year to a lease rate of $2.34, while industrial rent rates also increased slightly, reaching $0.93 per square foot for Q4 2016, representing a $0.13 increase over the last year.

Introduction picture: Magnifying glass over figures and data
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. In order to have one single indicator for the performance of the Orange County manufacturing sector, the Composite Index that is a weighted average of the underlying indices. 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 Survey
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 manufacturing economy of the county and a value below 50 shows a decline.

Source: Cal State Fullerton



California Consumer Sentiment
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. The California Composite Index is generated based on three indices: consumers’ outlook on current and future economic conditions, and an index measuring consumers’ spending plan.

Source: Chapman University
http://www.chapman.edu/images/userImages/cwilliam/Page_4388/CSResults_2010Q1.pdf




California Consumer Sentiment Regarding Current and Future Conditions
California Consumer Sentiment Index
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.

Source: Chapman University



John Wayne Airport Passenger Count
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 passenger boardings at John Wayne Airport by month.

Source: John Wayne Airport at
http://www.ocair.com/newsandfacts/airportstatistics.htm




John Wayne Airport Air Cargo Tons 2007-2016
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 tonnage of air cargo at John Wayne Airport by month.

Source: John Wayne Airport at
http://www.ocair.com/newsandfacts/airportstatistics.htm




John Wayne Airport Total Air Operations 2007-2016
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 at
http://www.ocair.com/newsandfacts/airportstatistics.htm




Total Containers at the Ports of Long Beach and Los Angeles 2010-2016
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 empties at the Ports of Long Beach and Los Angeles.

Source: Port of Long Beach at http://www.polb.com/economics/stats/teus_archive.asp
and Port of Los Angeles at http://www.portoflosangeles.org/maritime/stats.asp




Port of Long Beach by Type of Container
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) itemized by containers loaded inbound, containers loaded outbound and empty containers at the Port of Long Beach.

Source: Port of Long Beach at http://www.polb.com/economics/stats/teus_archive.asp



Port of Los Angeles By Type
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 total number of TEUs (20-foot-equivalent unit or 20-foot-long cargo container) itemized by containers loaded inbound, containers loaded outbound and empty containers at the Port of Los Angeles.

Source: Port of Los Angeles at http://www.portoflosangeles.org/maritime/stats.asp



Business Sales 2009-2016 by Region
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 businesses sold by entrepreneurs in each region.

Source: BizBen at http://www.bizben.com/stats/stats-monthly-jan.php



Orange County New Retail Car and Light Truck Registrations
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 by type of vehicle.

Source: Orange County Auto Dealers Association at
http://ocada.org/wp-content/uploads/2010/03/OC-Covering-4Q-10.pdf




Orange County Total Bankruptcies 2009 - 2016
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 2000 by court office in the Central District of California.

Source: United States Bankruptcy Court at
http://www.cacb.uscourts.gov/




Fictitious Name Filing 2009-2015
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 2005 as recorded by the Orange County Clerk-Recorder Office.

Source: Orange County Clerk Recorder



California Manufacturing Purchasing Managers Composite Index
California Manufacturing Purchasing Managers Composite Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163
The California Manufacturing Purchasing Managers Composite Index is a measure of the results of surveys of California manufacturing purchasing managers. In order to have one single indicator for the performance of the California manufacturing sector, the Composite Index that is a weighted average of the underlying indices. A value of 50 for the Composite 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
http://www.chapman.edu/images/userImages/cwilliam/Page_4388/PM_CAOCResults_2010I.pdf




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

The California Manufacturing Purchasing Managers Composite Index is a measure of the results of surveys of California manufacturing purchasing managers. This chart shows three industry sectors over time. A value of 50 for the Composite 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 Production Index
California Manufacturing Purchasing Managers Production Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The California Manufacturing Purchasing Managers Production Index is a measure of the results of surveys of California manufacturing purchasing managers. This chart shows the Production 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
http://www.chapman.edu/images/userImages/cwilliam/Page_4388/PM_CAOCResults_2010I.pdf




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

The California Manufacturing Purchasing Managers Employment Index is a measure of the results of surveys of California manufacturing purchasing managers. This chart shows the Employment 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 New Orders Index
California Manufacturing Purchasing Managers New Orders Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The California Manufacturing Purchasing Managers Employment Index is a measure of the results of surveys of California manufacturing purchasing managers. 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
California Manufacturing Purchasing Managers Commodity Price Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The California Manufacturing Purchasing Managers Employment Index is a measure of the results of surveys of California manufacturing purchasing managers. 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
http://www.chapman.edu/images/userImages/cwilliam/Page_4388/PM_CAOCResults_2010I.pdf




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

Grubb and Ellis measures the vacancy rate of properties in Orange County on a quarterly basis showing the percentage of properties lacking a current tenant.

Source: Grubb & Ellis
http://grubb-ellis.com/Research/Reports.aspx




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

Grubb and Ellis measures the vacancy rate of properties for the United States on a quarterly basis showing the percentage of properties lacking a current tenant.

Source: Grubb & Ellis
http://grubb-ellis.com/Research/Reports.aspx




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

Grubb and Ellis measures the completion and absorption of square footage of space by new tenants over time.

Source: Grubb & Ellis
http://grubb-ellis.com/Research/Reports.aspx




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

Grubb and Ellis measures the rents requested by owners of office space over time. Class A properties are typically high rise facilities while Class B properties are single-story or smaller facilities.

Source: Grubb & Ellis
http://grubb-ellis.com/Research/Reports.aspx




Orange County 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

Grubb and Ellis measures the vacancy rate of properties in Orange County on a quarterly basis showing the percentage of properties lacking a current tenant.

Source: Grubb & Ellis
http://grubb-ellis.com/Research/Reports.aspx




US Industrial Vacancy Rate
US Industrial Vacancy Rate: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163
Grubb and Ellis measures the vacancy rate of properties for the United States on a quarterly basis showing the percentage of properties lacking a current tenant.

Source: Grubb & Ellis
http://grubb-ellis.com/Research/Reports.aspx




Orange County Industrial Leasing ActivityOrange County Industrial Completion vs. Absorption: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

Graphed above is the completion and absorption of square footage of space by new tenants over time

Source: Grubb & Ellis
http://grubb-ellis.com/Research/Reports.aspx




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

Grubb and Ellis measures the rents requested by owners of industrial space over time. General Industrial space is space that can be used for manufacturing processes. R&D/Flex space is space that has more amenities and can be used for R&D purposes as well as be flexible for modified office usage if desired. Warehouse/Distribution space is space that can be used for the storage and warehousing of goods.

Source: Grubb & Ellis
http://grubb-ellis.com/Research/Reports.aspx
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