The Leading Index for Indiana, which is calculated by the Kelley School of Business, increased again in September, according to the University.
This month’s index is 102.0, up from August’s revised reading of 101.5, according to the University.
While all components contributed to the rise, increased home builders’ confidence was particularly noteworthy, according to the University.
Builders nationwide reported increased buyer interest and traffic.
Manufacturing continued to expand, marking 15 consecutive months of growth for that sector.
The index was developed to provide a way for Indiana businesses to understand the general direction of the state’s economy.
The last index will be released next month. This is because the interest rate, currently a component in calculating the index, has become a less reliable factor in determining the economy’s ?direction.
The Indiana Business Research Center, which exists within the Kelley School of Business, produces the index.
The IBRC, founded in 1925, has locations in both Bloomington and ?Indianapolis.
The primary function of the IBRC is to provide Indiana businesses, government organizations and nonprofit organizations with useful information and data regarding Indiana’s economy, according to its website.
The Dow Jones Transportation Average, which factors into the index, rose by 3.2 percent.
Anna Hyzy
