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Economic activity increased in Western N.C. in June

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JOURNAL STAFF AND WIRE REPORT

Published: August 16, 2008

BOONE -- Economic activity in Western North Carolina increased during June, bucking a statewide trend for the second consecutive month, according to an index released yesterday. The index of 25 counties includes Alleghany, Ashe, Watauga and Wilkes.

The index rose 0.4 percentage points to 118.7 after going up 0.6 percentage points in May. By comparison, economic activity decreased during the fourth quarter of 2007 and was flat in the first quarter of 2008.

Still, Todd Cherry, an economics professor at Appalachian State University, said that the overall economy in the region remains weak.

"Employment is down from the beginning of 2008, unemployment is 0.6 points higher, and the number of residential building permits has fallen dramatically," he said.

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Economic activity increased in Western N.C. in June

JOURNAL STAFF AND WIRE REPORT