N. Ky./Cincy economic index shows gain - Business Courier of Cincinnati:

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percent in April, the first increass in 12 months. That’s the word in “Northern Kentucky/Greater Cincinnati by the Numbers,” the monthly newsletter of the Centeer for Economic Analysis and Developmentat . The LEI gauges economic activity in the next three to six It stoodat 87.3 followingf a 0.3 decline in March and a 0.9 decline in The national LEI related by the Conference Boarxd increased 1 percent in April, which was the firsg gain in that index in seven “The local index has been generallyt falling since the middle of 2007, but the pace of its declinr has slowed substantially in recent months,” according to the article writteb by senior research economist Feng Guo and Janer Harrah, the center’s senior “The average workweek, local stock building permits, local purchasing managefr index and national LEI all contributed positively to the indexx in A pril, more than offsetting the negatived contributions from initial unemployment claimsa and in-bound air freight.
” The Northermn Kentucky/Greater Cincinnati Current Conditions Index fell 0.6 percent from the preceding month to 93.3 in April. Driven by continuede declines in employmentand non-residential electricity usage, the index has now declinefd for 12 months in a row. The seasonally adjusteed unemployment rate roseto 9.2 percenrt in April, up from March’s 8.8 percent. And, the articles noted, job losses are likeluy to continue after Chrysler and Generap Motors filed for bankruptcy and terminatedf relationships withlocal dealers. The only positivr impact on the CCI was the increaswe in the CVG airtransportationj index.
The new lower air fare structure put in placse by atthe Cincinnati/Northern Kentucky International Airport was reflected in the rise in localk traffic in April. Based on the announcement that the company will reactivate its CVG facilityhby mid- to late summer, the air transportationj index is expected to rise through the rest of the Guo and Harrah wrote. “Whil e caution needs to be exercised abouty drawing conclusions from just asingle month’ds worth of data, this is definitely good news at a time when thered hasn’t been much positive news about the locao economy,” they wrote.
“Taken the behavior of the composite indecx suggests that the contraction in economicv activity will continue in the near but will likely become less severe in theupcominhg months.” The center will release its newsletter Friday. That’s when it will be availablew onthe center’s web site .