The South Carolina Department of Commerce is reporting a strong first half for exports, an increase in residential building permits, and an improvement in the state’s leading index.
When comparing the first half of 2013 to the first half of this year, initial data released by the US Department of Commerce show the Palmetto State is up 11.9 percent to $14.59 billion in exports and is on pace for a record high.
During the second quarter of the year, the state’s top exports were vehicles at $2.67 billion, machinery at $1.3 billion, aircraft at $548 million and tires at $436 million.
Residential building permits were up 10.5 percent in July, increasing by 223 permits from the previous month to 2,352. Permits issued in Myrtle Beach were up 26 percent while Spartanburg experienced an increase of 23 percent.
Comparing the last three months to the same quarter in 2013, Greenville, Spartanburg and Myrtle Beach have shown the strongest gains in building permit activity.
Home sales declined 2.0 percent during July while the median home sales price dropped by 3.9 percent and foreclosure-filing activity declined 3.8 percent.
Home sales in both Greenville and Spartanburg were down in July of this year when compared to the same month in 2013 as Greenville reported 61 fewer home sales and Spartanburg reported 55 fewer.
As highlighted by the report, the South Carolina Leading Index (SCLI) gained 0.02 points during July to end the month at 101.46. The Conference Board’s Leading Economic Index for the U.S. also showed improvement, gaining 0.9 percent in July to 103.3.
