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Mississippi drafts on U.S. economy in July

By MBJ STAff

Mississippi’s Leading Index rose in July for the fourth straight month, but that’s despite itself.

The national economy is pulling the state along with its improving performance, according to the University Research Center of the Mississippi Institutions of Higher Learning.

“The only component [of the index] specific to Mississippi that rose in July was building permits,” the center said in its monthly report.

The value of residential building permits in July was 7.1 percent higher than a year earlier, and the highest since December 2017.

“Notably the Mississippi Manufacturing Employment Intensity Index fell for the fifth consecutive month as both manufacturing employment and average weekly hours in the state have been weak in 2018,” the report continued.

Other components of the Mississippi Leading Index are the U.S. Manufacturing Activity, Retail Sales, University of Michigan Index of Consumer Expectations, Mississippi Income Tax Withholdings and Mississippi Manufacturing Employment Intensity.

Meantime, the U.S. economy grew by 4.2 percent in the second quarter, ending June 30.

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