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State Economic Index Shows Year-Over-Year Uptick

An Indiana University measure of the state’s economy shows the Hoosier State is experiencing growth. The Leading Index for Indiana has increased half-a-percent, compared to last October. Indiana Business Research Center Director of Economic Analysis Tim Slaper said all five components of the L-I-I contributed to the boost…

“The Purchasing Managers’ Index, which is the indicator of manufacturing activity, rose in October; the transportation Index of the Dow also rose,” Slaper said.  “And we saw the incremental increase for automobiles and parts. The most significantly, the home builders were less grim about the prospects than they were when the home buyers’ tax credibility expired early this summer. This seems some sort of cause for less pessimistic.”

Slaper, who last month authored a report suggesting the state’s economy would not see large-scale growth until at least 2012, says one negative of a rising L-I-I might be increased concern about the state’s ten percent unemployment rate.

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