A sluggish housing market in Indiana is holding back the state’s economy this year, according to the most recent economic index from the Indiana Business Research Center.
The Leading Index that predicts the state’s future economic climate rose slightly in March.
Economists said last month the harsh winter was dragging down car and home sales, and Indiana Business Research Center economist Timothy Slaper says that trend is continuing.
“That one component really dragged down the index last month and it really tempered the upward movement of the index this month,” he says.
But Slaper says warmer temperatures in the coming months could improve sales and the overall economic forecast.