North Carolina’s economic barometer improved in October, its first gain since June. But the statewide economic index remains down from one year ago, a sign that the state’s economy is stagnant and not expected to improve significantly anytime soon, reports the News and Observer.
The monthly index of leading economic indicators is compiled by N.C. State University economist Michael Walden. It showed a 1.4 percent increase for October and a 0.5 percent decline since October 2010. “Without a significant ‘breakout’ – either up or down – the outlook is for more of the same,” he said.
The Walden index is based on five measures: jobless claims, housing permits, manufacturing hours worked, manufacturing earnings per employee, as well as the national index of leading economic indicators. Read More.