NC economy slowly mending

July 2, 2013 

North Carolina is oh-so-slooooowly on track to bring unemployment below 7 percent statewide and below 6 percent in the Triangle by 2015, according to prognostications prepared by N.C. State University economist Michael Walden.

“The good news is that North Carolina’s economic recovery is expected to continue,” Walden writes in his monthly report. “The bad news is that a rapid acceleration in growth is not yet on the horizon.”

Walden cited marginal improvement in May in leading economic indicators he tracks to forecast that state’s recovery. They include the nation’s economy overall, as well as statewide factors such as building permits, manufacturing work hours and initial jobless claims.

In May, Walden issued a prognosis for 18 months out, predicting substantial improvement over time.

The report issued Monday looks four to six months ahead, but says the forecast remains essentially unchanged. His index, which dipped to an all-time low in early 2009, has been rising unsteadily and is up by 1.6 percent in the past year.

Staff writer John Murawski

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