A statewide economic measure showed surprising signs of life in November, even tempting its creator to flirt with the notion that North Carolina’s economy could finally be recovering report the
.The index, created by N.C. State University economist Michael Walden, is designed to indicate the direction of the state’s economy four to six months into the future.”The index surged in November, with all components improving,” Walden wrote. “Is this a sign of an accelerating state economy for the new year?”
This isn’t the first time Walden’s statewide index has improved since the recession, and it would have to rise several months in a row for it to be meaningful.However, it did show a surprisingly strong jump of 1.9 percent from October to November. Just as important, November 2011 came in 1.3 percent ahead of November 2010, showing an annual gain as well.It’s the second consecutive month that the index has gone up. The index is based on five measures: building permits, unemployment benefits, manufacturing wages, manufacturing hours logged and an index of the national economy. Read More.