News
West Virginia Recession Apparently Over
By: Associated Press
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MORGANTOWN, W.Va. (AP) – West Virginia University researchers say the state appears to have emerged from a recession.
WVU said in a news release Monday that economic indicators show the recession likely ended during the second quarter of this year, based on slight gains in the Mountain State Business Index in June and July.
The index combines seven economic indicators to measure the expected swings in the state’s economic activity.
The university says the index has increased in three of the past four months. However, the state economic remains relatively weak. And the fallout from devastating floods in late June could weaken conditions further.
But WVU Bureau of Business and Economic Research director John Deskins says there is “very guarded optimism” for slow economic growth in the months ahead.