State economic index shows further slide

Advertiser Staff

The effects of the Sept. 11 attacks are starting to show up in data used to calculate the state's leading economic indicator, which fell in October for the 17th consecutive month, the Department of Business, Economic Development and Tourism said yesterday.

Six of the 10 indicators that make up the LEI composite were negative in October.

The Hawai'i leading economic indicator, or LEI, is compiled by DBEDT's Research and Economic Analysis Division and signals economic activity five to 10 months in the future. A rise in the index signals faster growth ahead, while a decline in the index signals slower growth.

Three of the indicators based on data from the Hawai'i economy were up, DBEDT said. The index for O'ahu real estate sales increased during October, as did the indexes for the values of construction permits and the price of O'ahu real estate.