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Economy in Western N.C. down again in recent index
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Published: December 9, 2008
BOONE -- Economic activity in Western North Carolina dropped in October by nearly a percentage point, according to an index released yesterday. The index of 25 counties includes Alleghany, Ashe, Watauga and Wilkes.
The index fell 0.9 percentage points to 117 and was down 2.8 percent for the third quarter. The region also has lost about 12,000 jobs in 2008, including 2,700 in October, according to the index.
"The regional economy has struggled over the past 12 months, but conditions noticeably weakened recently," said Todd Cherry, a co-author of the index and an economics professor at Appalachian State University.
The index found that 22 of the 25 counties in the region had a net loss of jobs in October, with Alleghany and Watauga having the largest losses at 7.4 percent and 4.9 percent, respectively.
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