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S.C. Leading Index points to economic expansion

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The South Carolina Leading Index of economic indicators dipped slightly in July but remained in positive territory.

According to the recently released August economic outlook report by the South Carolina Department of Commerce, the index dropped 0.18 points in July to 102.28. A reading over 100 generally points to economic expansion for the next three to six months.

A month-over-month gain of 0.7% in the Dow Jones Composite Index and a 1.7% increase in residential building permits were offset by a 0.7% decline in average weekly manufacturing hours and a 33.7% increase in initial claims for unemployment insurance, the agency’s Research Division reported.

Meanwhile, the state’s jobless rate remained flat at 3.9% in July.

Here are other key S.C. indicators:                 

  • 1.1% increase in state personal income to $201 billion in the first quarter of 2017.
  • 4.7% increase in the S.C. stock index, rising 7.48 points in July and closing at 165.85 on the last day of trading of the month.
  • 2.9% increase in the single-family home sales price, up $5,500 to $195,500.
  • 0.5% decrease in nonfarm employment.
  • 0.1% decrease in the state’s labor force, down 2,358 workers to a seasonally adjusted figure of 2,319,840.
  • 5.5% decline in number of available online job postings.

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