Mountain State Business Index Story Archives - West Virginia Public Broadcasting

W.Va. Economy on the Rise Through 2017

Economists at West Virginia University say the state’s economy will continue to see solid growth by the end of 2017. It’s the highest level since 2015.

West Virginia’s economy has increased by 2 percent over the past year, according to the Mountain State Business Index.

Last month, the index jumped three tenths of a percent. That growth is mostly attributed to a 4 percent increase in coal production from July.

Director of the WVU Bureau of Business and Economic Research John Deskins predicts West Virginia will “post moderate growth over the next several months,” but says it will probably take years for the state’s job market to bounce back to levels it saw prior to 2012.

The business index is produced by WVU’s Bureau of Business and Economic Research. Economic indicators determine the index, including building permits, unemployment insurance claims, the value of the U.S. dollar, stock prices related to West Virginia employers, interest rates, coal production, and natural gas output.

WVU Economists See Monthly Gains in State Economy

West Virginia University economists say their business index shows improvement in the state’s economy for the past nine months.

Their Mountain State Business Index, after recording a slight monthly increase in May, was 1.6 percent higher than the same month last year.

John Deskins, director of the WVU Bureau of Business and Economic Research, which produces the index, says the metrics show West Virginia’s economy overall “should post moderate growth over the next several months.”

However, they say some areas are still struggling.

The index tracks, building permits, unemployment insurance claims, natural gas output, coal production, stock prices related to West Virginia employers, interest rates and U.S. dollar value.

It shows May building permits and coal production lower than April, but higher natural gas production and lower unemployment claims.

Economic Report Indicates West Virginia is in Recession

A new report indicates that West Virginia is in an economic recession.

The Register-Herald reports that the Mountain State Business Index has found that West Virginia has seen deterioration in economic activities since the spring of 2015.

The economic recession has been largely a result of the decline in the coal industry. The index found that in March there was a 3.1 percent month-to-month decline in coal production. It also found that there were month-to-month gains registered for natural gas production.

The index combines seven economic indicators to measure the expected swings in the state’s economic activity.

John Deskins, director of West Virginia University’s Bureau of Business and Economic Research, says the state’s recession is expected to continue into the summer. He says that outcomes vary across the state.