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Economy in Brief

State Coincident Indexes in March 2022
by Charles Steindel  April 21, 2022

The Federal Reserve Bank of Philadelphia’s state coincident indexes in March were almost uniformly strong. Over the three months since December all 50 states reported growth, with Montana and West Virginia both increasing by more than 4 percent. Only 4 states had growth less than 1 percent (Mississippi, Louisiana, Arkansas, and Arizona). The independently estimated national figure of 1.3 percent growth over this period was not consistent with the state numbers.

Over the last 12 months 6 states registered gains higher than 10 percent, led by Nevada’s 14.6 percent. Once again, New York and California were in this group. The 6.0 percent national figure was not representative of the individual state outcomes.

All 50 states report an increase from February to March, Montana up by 1.9 percent and Massachusetts clocking a 1.8 percent advance. A total of 10 states had increases of at least 1 percent.

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