Figures show Iowa economy slowly improves

[ccharles000]

DES MOINES -- Figures released Wednesday show Iowa’s economic indicators rose in November compared to the same month a year ago, providing hope that Iowa’s economy is slowly improving.

The Iowa Leading Indicators Index jumped 0.4 percent in November, marking the second month of increases after eighteen months of declines. The index, compiled by the Iowa Department of Revenue, is used to forecast the future direction of Iowa’s economic activity.

“It’s starting to turn around but we’re not anywhere back to ... average economic activity in the state,” said Amy Harris, an analyst with the revenue department.

Six of eight components of the Iowa Leading Indicators Index increased. Harris said if the positive signs are sustained, hiring gains could be seen in the late spring or early summer.

Unemployment claims in November were down 21.3 percent compared to November 2008, but still far above average November claims.

The number of building permits for residential housing units issued in November was up 9.9 percent over the number issued the same month a year earlier.

The ag sector also has shown improvement, driven by a decline in input costs for crops and livestock, Harris said.

http://www.siouxcityjournal.com/news/local/article_4712535b-b3ea-59f1-bb1b-465a62143f88.html

[TexasObserver]

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