Economics

There was mixed economic data for the Augusta Leading Economic Index (LEI) in August. As my wife says, “Give me the bad news, then cheer me up.” Residential building permits fell 8.6 percent in August to 290, the lowest monthly number this year. New data from the Federal Deposit Insurance Corporation reported that there were fewer dollars in local banks on June 30, 2024 than a year earlier. While this may represent consumer optimism and strong retail sales, it does reduce the capacity for future spending. The good news is that

The Augusta Metropolitan Statistical Area economy is in a recession, according to one indicator. The Sahm indicator hit 0.6 in August and a reading higher than 0.5 indicates a recession. The Sahm indicator is named after its creator, Claudia Sahm. The Sahm Recession Indicator signals the start of a recession when the three-month moving average of the unemployment rate rises by 0.50 percentage points or more relative to the minimum of the three-month averages from the previous 12 months. In August, the local unemployment rate rose to 4.4 percent for

Jefferson Energy Cooperative and Georgia Power officials say there are just a few folks without power in their service areas. Georgia Power says it is now in the financial phase of the storm to work with customers on paying their bills as they can. November 30th and December 15th are key dates to keep in mind for yourself or loved ones who may need this information. GP is allowing two-, four-, and six-month installment plans for those who qualify. Enroll by November 30th. Service disconnections, late fees, and collection activities