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Economic index shows decline in Western N.C.

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JOURNAL STAFF AND WIRE REPORT

Published: May 8, 2008

BOONE -- The economy in Western North Carolina slowed again in March, falling 0.2 percentage points and erasing gains made in January and February.

The index was at 117.6, which was down from a revised 117.9 in February. It includes Alleghany, Ashe, Watauga and Wilkes counties.

"The regional economy continues to teeter on the edge of a recession, but the main story is the magnitude and persistence of the economic weaknesses," said Todd Cherry, an author of the report and an economics professor at Appalachian State University."

The region lost nearly 3,000 jobs, or 0.5 percent of the work force, during the first quarter. By comparison, the state lost about 13,500 jobs -- 0.3 percent of the statewide work force.

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Economic index shows decline in Western N.C.

JOURNAL STAFF AND WIRE REPORT