(RALEIGH) -- North Carolina Gov. Bev Perdue and business and economic leaders from across the state gather on Tuesday for an economic outlook forum in Research Triangle Park. The state's economy may be on the rise according to an index created by an NC State University economics professor.

Dr. Mike Walden said the index is based on several measures. "The index is based on a national index, because we are tied into the national economy.  It also includes building permits.  It includes first time claims for unemployment and it includes two measures of the manufacturing sector, weekly hours and weekly earnings," said Walden.

This is the second consecutive month that the index has gone up. Walden said it would have to rise several months in a row for it to be meaningful.