Published Dec. 1, 2015
|Source: S.C. Department of Commerce|
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.