edited by Jodi Summers
Optimism is the result of January’s coincident indexes for the 50 states. The coincident index, compiled by the Federal Reserve Bank of Philadelphia, combines four state-level indicators to summarize current economic conditions in a single statistic.
The four state-level variables in each coincident index are:
- nonfarm payroll employment,
- average hours worked in manufacturing,
- the unemployment rate,
- and wage and salary disbursements deflated by the consumer price index (U.S. city average).
The trend for each state’s index is set to the trend of its gross domestic product (GDP), so long-term growth in the state’s index matches long-term growth in its GDP.
In January, 49 states had increasing activity(including minor increases). This measure has been and up down over the last few years …
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