Recent Updates
- **EIA releases, including WPSR, are delayed by the source**
- China: EPMI (Jun)
- US: New Residential Sales (May)
- Canada: Payroll Employment, Earnings, & Hours (Apr)
- more updates...
Economy in Brief
Italian Consumer Confidence Remains Hammered Down
Italy's consumer confidence fell month-to-month...
U.S. Current Account Deficit Deepens to Record in Q1'22
The U.S. current account deficit deepened to $291.4 billion during Q1'22...
Kansas City Fed Manufacturing Index Declines Further in June But Remains Positive
The Kansas City Fed reported that its manufacturing sector business activity index fell to 12 in June...
U.S. Unemployment Claims Edged Down
Initial claims for unemployment insurance filed in the week ended June 18 declined by 2,000 to 229,000...
U.S. Energy Prices Reverse Earlier Gains
Retail gasoline prices surged to $5.01 per gallon (63.1% y/y)...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Charles Steindel April 10, 2020
The Philadelphia Federal Reserve Bank has issued estimates of state coincident indexes for February. This is essentially the last comprehensive snapshot of the distribution of activity prior to the impact of the pandemic. A look at the medium and longer-term developments seems fairly off the point. In the short-term, Arizona and Maine experienced declines from January to February (the fall in Arizona was so modest that in the Bank's report it is chalked up as "unchanged"); Maine was the only state to experience a three-month drop. The coincident indexes depend heavily on labor market data, with some smoothing of current developments. One suspects that bad as the March figures are likely to be, they could well be revised down when the raw information for April gets factored in.