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Indiana Economic Index On The Rise

The housing market and auto sales showed substantial growth last month.

The Indiana economy continues to improve. According to Indiana University economists the state’s monthly economic index increased in January to a post-recession high.

The housing market showed substantial growth in January. Homebuilders told IU economists they were more confident in the market than they had been since 2007.

IU Director of Economic Analysis Timothy Slaper says Indiana has always had a higher foreclosure rate than the nation, but now, it’s leveling off.

“Basically what we see now is that Indiana is just basically staying at the same rate that it always has been and we’re seeing some recovery in foreclosures,” he says.

Auto sales also picked up in January. The tricky part, Slaper says, is the increase in gas prices.

“That’s really key in terms of the type of cars they buy because instead of buying the mid-size car they’re going to be moving to the subcompact because it gets better fuel economy. And that’s going to have a knock on effect for the type of car people buy and the parts that go into it,” he says.

And since manufacturing is a large part of the state’s economy, it could have a bigger effect on how much business local auto manufacturers have in the near future

Gretchen Frazee

Gretchen Frazee is a reporter/producer for WFIU and WTIU news. Prior to her current role, Frazee worked as the associate online content coordinator for WFIU/WTIU. She graduated from the University of Missouri-Columbia where she studied multimedia journalism and anthropology. You can follow her on Twitter @gretchenfrazee.

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  • Anonymous

    Refinance mortgage rates going to go up for sure. Any body still thinking should just make use of the low rates. Do not wait and regret it is not that difficult to make it happen. Online is very easy check out either 123 Refinance before you check with the “major banks”

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