Biz Index shows increase in economic activity
Economic activity is up, unemployment is slightly down and plans to build, year-over-year, are up in Guilford County, according to a local economic report issued today.
In the newest Triad Business Index report, economist Don Jud notes that economic activity was up 0.2 percent in the county in August. The unemployment rate was down 0.1 percentage points, to 4.5 percent - a decrease of 0.7 percentage points from August of last year.
County employment stood around 231,364, up 0.2 percent from July. From August 2005 to August '06, Jud reports, county employment had risen 0.5 percent, about a third of the growth at the national level.
Residential building permits in the county were up 7.6 percent year-over-year, although single-family permits were down 4.8 percent.
And housing prices, adjusted for inflation, are down 0.5 percent year-over-year.
Jud's report also reviews the Triad as a whole. Economic activity throughout the area was up 0.4 in August, with fairly static unemployment. Residential building permits throughout the Triad were off 3.5 percent in August, Jud reports. Plans for residential building in the Triad had fallen by 19.6 percent year-over-year.
Comments (2)
To report abuse of the comment feature on this site, please use the feedback form at the bottom of any page.
Are building permits up or down year over year? You seem to say both. And isn't a 20% year-over-year decline in residntial permits really the biggest story here?
Posted on October 3, 2006 1:45 PM
Roch -
Building permits, overall, are up in the county, despite the fact that single-family permits were down somewhat year-over-year.
But, as you noted, permits are strikingly down in the Triad as a whole, year-over-year.
From a Triad-wide perspective, the decline in building permits certainly would be THE major story. From a Guilford County perspective, seeing as building seems to be holding its own within the county, not so much.
Hope that clarifies things.
Michelle
Posted on October 4, 2006 3:08 PM