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N.C. economic prospects declining

Prospects for North Carolina's economy are getting steadily worse, according to measures devised by N.C. State University economist Michael Walden.

Walden's index fell in June, the fourth decline in the past five months. The index fell both in the previous month (down 1.1 percent) and in the previous year (down 0.9 percent).

The index created by Walden measures five leading economic indicators, one of which reflects the national economy and four of which reflect the state. Walden includes the national measure because the state's economic fortunes are linked to economic ups and downs of other states.

The four state measures are initial claims for jobless benefits, housing permits, average weekly hours of work in manufacturing and average weekly earnings in manufacturing. All data is seasonally adjusted. The manufacturing measures and jobless claims improved in June, but the other measures fell, Walden said.

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