RALEIGH–The North Carolina State University Index of leading economic indicators rose a modest 0.8 percent from October to November.
The largest change among the components was an also 50 percent drop in initial claims for unemployment, reflecting an improvement mainly in the southeast state job market post- Hurricane Florence.
Other components of the Index changed little, possibly signally the beginning of a transition to a slower growing state economy in 2019, said NCSU economist Mike Walden, PhD, who compiles the Index.
Offsetting this positive change were slight declines in the national index and manufacturing hours, a small gain in building permits, and no change in manufacturing earnings.
Outside the post hurricane-related improvement in jobless claims, there was little movement in the other components of the Index.
This may suggest the beginning of a transition to slightly slower growth in the state economy in 2019, Walden explains.