WNC economy weak but shows signs of life:
Western North Carolina’s economy remains weak, but June provided good news for the region. Economic activity, as measured by the Western North Carolina Economic Index and Report, increased 0.4 percent in June. In addition, the region’s economy rebounded in the second quarter of 2008 after two consecutive quarters of non-growth.
While the regional economy performed better in the second quarter of 2008, overall the region’s economic status remains weak. “Employment is down from the beginning of 2008, unemployment is 0.6 points higher, and the number of residential building permits has fallen dramatically,” said Todd Cherry, a professor in the Department of Economics at Appalachian State University and a co-author of the report.
