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S.C. Leading Index turns in mixed results

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Staff Report
colanews@scbiznews.com
Published Dec. 1, 2015

indicators 12-1
Source: S.C. Department of Commerce
A strong performance by the stock of S.C.-based companies, offset by weaker numbers for housing starts and a bump in initial claims for unemployment insurance, produced a mixed bag of results for the S.C. Leading Index, the state Department of Commerce reported on Monday.

Overall, the leading index of economic indicators slipped 0.44 points in October, ending the month with a value of 101.53. A value of 100 points or more point to economic growth for the next three to six months.

The report noted that the Dow Jones Composite Index of South Carolina companies rose 5.8% in October and the Bloomberg S.C. index climbed 7.6%. Meanwhile, residential construction permits dropped 26.6% while initial claims for unemployment checks rose by more than half.

The state’s housing market cooled off as the number of real estate closings fell 14.2% month-over-month to 5,540 homes sold. The median home price dropped 0.8% to $173,000 between October and September, the report said.

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