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Economy in Brief

State Coincident Indexes in January
by Charles Steindel  April 2, 2020

The Philadelphia Federal Reserve Bank has issued estimates of state coincident indexes for January. These indexes now take into account the annual labor market benchmark revisions. Additionally, movements in proprietors’ income are now assumed to affect a state’s index. Given that today’s release refers to January, and the massive events since then, the actual numbers released should be of little interest (the estimates for February will be released on April 10). For the 12 months ending in January, South Carolina saw the largest increase in activity: 5 percent. Arizona, Utah, Washington (state; the index is not computed for DC), Maryland, and Florida also saw gains about 4 percent. Louisiana and West Virginia experienced declines, and a swath of 15 states, almost entirely in the mid-section of the nation, saw gains of less than 2 percent (Alaska and Vermont were also in that group).

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