Construction permits to build homes in Augusta are at a 15-month high!
Residential construction permits in June increased slightly and are at the highest level since March 2025. More than 300 permits have been pulled each month since February 2026, compared to just 4 months over the whole of 2025.
Other indicators had a positive June. The Dow Jones Industrial Average continued its climb on the back of strong quarterly profits for firms. Inflation in the South declined to 3.2% from 3.9% in May despite higher oil and gas prices.
The Augusta Leading Economic Index (LEI) increased by 0.2 percent in June from May. It is 1.2 percent higher than in June 2025, although the rate of growth has declined over the last three months.
Weakness was shown in the indicators related to the labor market. Job openings declined by 1.7 percent, and initial claims for unemployment insurance increased by 21 percent. The increase in claims is not particularly troubling, as they often increase seasonally in June with the entry of school leavers into the workforce. Initial claims are still 13 percent below June 2025. Claims are also historically low, being less than 1,000 in 13 of the last 18 months. Employment in Augusta fell in June, and this LEI data suggests July may also be weak.
