Parish thinks that Singapore, Thailand, Korea, Taiwan and Hong Kong will see better days, which will lead to increased foreign trade. Meanwhile, the number of passengers arriving at Charleston International Airport is expected to increase 2.27 percent. Mortgage rates will continue to sag, held in place by inflation, according to the forecast. The indicators used in the Charleston Metro Chamber of Commerce's economic forecast are reported in a quarterly format. Predictions are based on econometric modeling developed by Charleston Southern University, using historical data from the chamber's Center for Business Research.
Data includes various indicators and their influences on each other.
The model relies on 19 indicators. Local factors include labor force, employment, jobless rate, retail sales, home and commercial construction permits, existing-home sales, lodging occupancy figures and daily room rates, attraction attendance, new car and truck sales and leases, airline arrivals and port tonnage. In addition to this research, an Economic Outlook Board provides insight based on members' firsthand knowledge of the economy.