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SOUTH CAROLINA BUSINESS ACTIVITY WEAKENS

 SOUTH CAROLINA BUSINESS ACTIVITY WEAKENS
 COLUMBIA, S.C., Nov. 2 /PRNewswire/ -- Business activity in South


Carolina declined 0.8 percent in the third quarter of 1992, according to the SCN South Carolina Business Index published quarterly by South Carolina National Bank (NASDAQ: SCNC). Over the past 12 months, the index has fallen 0.9 percent.
 Of the index's four major components, three improved during the third quarter. The value of residential building permits, which reflect construction plans, gained 1.9 percent. The average manufacturing workweek rose to 41.8 hours, and new claims for unemployment benefits fell 6.9 percent. On the negative side, non-agricultural employment declined 0.7 percent.
 Nationally, non-agricultural employment was up 0.1 percent during the third quarter of 1992. For the 12-month period, non-agricultural employment has dropped 1.0 percent in South Carolina, while the rate improved 0.2 percent nationwide.
 South Carolina manufacturing employment was down 0.4 percent during the quarter. Employment declined in the electrical and non-electrical machinery, lumber, textiles, chemicals, and apparel sectors. Stable employment was reported in the furniture and food processing sectors.
 Non-manufacturing employment in the state fell 0.8 percent during the quarter. The government, contract construction, and services sectors posted employment gains. Lower employment was reported in the wholesale/retail trade sector.
 South Carolina's seasonally adjusted unemployment rate for the third quarter averaged 6.2 percent, down 0.5 of a percentage point from the second quarter of 1992. The national rate was 7.6 percent, up 0.1 of a percentage point from the previous quarter.
 The SCN South Carolina Business Index measures the state's economic activity quarterly. Using 1976 as a base of 100, it reflects indicators of the state's economy. Data are adjusted to smooth the effects of historical seasonal fluctuations and other statistical aberrations.
 SELECTED SOUTH CAROLINA BUSINESS INDICATORS -- THIRD QUARTER, 1992
 PCT. CHANGE
 THIS LAST YEAR LAST YEAR
 INDICATOR UNITS QTR. QTR. AGO QTR. AGO
 BUSINESS
 INDEX Index
 (1976 equals 146.5 147.7 147.9 -0.8 -0.9
 100)
 EMPLOYMENT(A) Thousands
 NON-AGRI-
 CULTURAL
 UNITED STATES 108,489.7 108,432.0 108,250.0 0.1 0.2
 SOUTH CAROLINA 1,498.6 1,509.1 1,514.5 -0.7 -1.0
 MANUFACTURING
 UNITED STATES 18,172.0 18,263.3 18,427.3 -0.5 -1.4
 SOUTH CAROLINA 366.9 368.3 367.5 -0.4 -0.2
 Durables 127.3 128.6 130.3 -1.0 -2.3
 Furniture 4.1 4.1 4.0 0.0 2.5
 Machinery, Except
 Electrical 34.9 35.0 35.5 -0.3 -1.7
 Electrical
 Machinery 21.0 21.1 21.9 -0.5 -4.1
 Lumber & Wood 13.6 13.7 14.1 -0.7 -3.5
 Non-Durables 239.6 239.7 237.2 0.0 1.0
 Textiles 91.0 91.8 92.9 -0.9 -2.0
 Apparel 36.0 37.5 37.2 -4.0 -3.2
 Food & Kindred
 Products 14.5 14.5 14.4 0.0 0.7
 Chemicals &
 Allied Products 41.6 41.8 40.0 -0.5 4.0
 Non-Manufacturing 131.7 1,140.8 1,147.0 -0.8 -1.3
 Wholesale/Retail
 Trade 331.0 332.7 340.0 -0.5 -2.6
 Government 289.2 282.7 285.7 2.3 1.2
 Services 302.8 300.0 298.4 0.9 1.5
 Contract
 Construction 78.9 78.7 87.6 0.3 -9.9
 UNEMPLOYMENT
 New Claims for
 Unemployment
 (S.C.)(A) 25,123.0 26,975.0 35,232.0 -6.9 -28.7
 S.C. Rate(A) Percent 6.2 6.7 5.9 -0.5 0.3
 U.S. Rate(B) Percent 7.6 7.5 6.8 0.1 0.8
 MANUFACTURING STATISTICS(A)
 Average
 Workweek Hours 41.8 41.4 41.1 1.0 1.7
 Weekly
 Manhours Thousands 15,336.4 15,247.6 15,104.3 0.6 1.5
 Average
 Hourly
 Earnings Dollars 9.48 9.42 9.10 0.6 4.2
 Average
 Weekly
 Earnings Dollars 396.20 390.10 374.10 1.6 5.9
 MISCELLANEOUS
 Consumer
 Price
 Index(B) Index
 (1982-84
 equals 100) 140.9 139.8 136.7 0.8 3.1
 Total Personal
 Income(C)
 (3rd QTR.
 1992) $millions 57,294.0 56,849.0 54,738.0 0.8 4.7
 New Business
 Starts(F) Units 505.0 505.0 528.0 0.0 -4.4
 Residential
 Bldg.
 Permits(C) $thousands 81,762.5 80,241.1 74,096.7 1.9 10.3
 Retail
 Sales(D) $millions 3,197.5 3,233.5 3,142.5 -1.1 1.8
 New Car
 Sales(E) Unit Sales 7,139.0 7,154.0 5,918.0 -0.2 20.6
 SOURCES: (A) S.C. Employment Security Commission
 (B) U.S. Bureau of Labor Statistics
 (C) U.S. Department of Commerce
 (D) S.C. Dept. of Revenue
 (E) S.C. Automobile Dealer's Assoc.
 (F) S.C. Office of Sec. of State
 Data compiled by Dr. Donald Jud, Dept. of Finance, UNCG
 -0- 11/2/92
 /CONTACT: Brenda Hellams, South Carolina National Bank, 803-765-3335/
 (SCNC) CO: South Carolina National Bank ST: South Carolina IN: FIN SU:


SB-CM -- CH008 -- 1636 11/02/92 13:07 EST
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Date:Nov 2, 1992
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