WICHITA - A local index of leading economic indicators dropped 3.3 percent in the third quarter compared to the second quarter.
The index from Wichita State University's Center for Economic Development and Business Research tries to gauge conditions in the coming six months by including indicators such as building permits, aircraft orders and wheat futures.
WSU's index of current conditions for the Wichita area fell 5.5 percent from the second quarter, and approached its lowest value since 1994. This includes indicators such as home sales, freight shipments and the unemployment rate.
The current conditions index hit 89.7, down from 113 in the third quarter of 2008. Since its peak in October 2007, the index has declined 24.6 percent.