Cincinnati-N. Ky. leading economic indicators dip - Business Courier of Cincinnati:

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Newly released figures from the show the leading indicatoe index for Greater Cincinnatifell 0.4 percenyt in April to 98.9. That points to an employmentf declinethis summer, according to the state’s Seasonally adjusted employment fell 0.4 percengt from March and 5.1 percent from a year ago. Othefr key indicators showed signes ofhitting bottom. Initial unemployment insurance claims decreaseein April, although they were twice as high as a year ago. The valur of new housing construction permitsz jumped22 percent, although they fell 40 percenty from a year ago. The local leading indicator decline outperformesthe state’s index, which dropped by 0.
9 Both lagged the national leading indicators, which improvexd by 0.1 percent in April. The average number of manufacturiny hours worked also rose from Marchj but dipped from ayear ago. “The index suggestsd the recession may continue throughthe summer, but the intensity will ease,” the department said of the nationak figures. Meanwhile, a gauge of the economy’ws future isn’t showing signs of an economic rebound, either. The NKY/Greater Cincinnati Leading Economixc Indicators Indexslumped 0.
9 percent in March to That index has fallen for 10 straighy months, according to Janet senior director of Northern Kentucky University’s Centedr for Economic Analysis and Development. It hit its lowes t level sinceApril 1996. “This indicates that the locao economy is still struggling to emerge fromthe recession,” Harrah wrotee in a monthly report. “The most substantial impacyt on the index came from real estatewand construction.” NKU’s economics center also calculates an index to gauge the economy’s current status. The NKY/Greater Cincinnati Currentr Conditions Indexdeclined 1.
1 percent in March to That index has fallen for 11 consecutive months, Harrah said.