From fourth quarter 2009 to first quarter 2010, the WSU Leading Economic Indicators Index increased 0.1 percent; however, from first quarter 2009 it dropped 5.1 percent.
Only two of the nine Index indicators deteriorated from fourth quarter 2009 to first quarter 2010. Hours worked in manufacturing in the Wichita area decreased 0.3 percent, and the wheat price decreased 2.2 percent.
After increasing 3.1 percent from November through February, the Leading Index dropped 5.2 percent in March. However, this was caused primarily by a data anomaly associated with the value of nonresidential construction permits in Wichita. The March value was an unusually low number, which had an unusually negative impact on the Index value. If nonresidential building permit values had been within a more normal range, the Index would have been reasonably stable from February to March.
To read the Leading Index report in its entirety, click here.