The NCSU Index of North Carolina Leading Indicators fell modestly in September from its August level. A 15 percent drop in building permits was the biggest mover, but other components of the Index improved during the month.

The decline in September could reflect both national and regional impacts from Hurricanes Harvey and Irma, says NCSU Economist Mike Walden, who compiles the monthly Index.

The other three components of the Index, initial jobless claims, manfufacturing hours and manufacturing earnings all improved during the month.

The lingering impacts of the hurricanes and shifting expectations about federal tax changes will add complexity to the understanding economic trends in coming months, Walden says.