State Coincident Indexes in July 2025
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The Federal Reserve Bank of Philadelphia’s state coincident indexes in July continued their recent mediocre performance. In the one-month changes, while Alabama was up .88 percent, no other state had an increase as large as .5 percent, and ten saw declines, with Minnesota off .49 percent. Over the three months ending in July, Alabama was again on top in economic performance, as well as alphabetically, with an increase of 1.39 percent. While seven other states had gains of at least 1 percent, eight were down, with, as was the case for the one-month changes, Minnesota at the bottom , with a loss of .49 percent. Over the last twelve months, Massachusetts and Iowa were down, and five others saw increases of less than one percent. South Carolina was again the only state with an increase higher than four percent (Idaho was up 3.62 percent), and five others were at or higher than three percent.
The independently estimated national estimates of growth over the last three and twelve months were, respectively, .47 and 2.36 percent. Both measures appear to be a bit lower than what the state numbers would have suggested.
Charles Steindel
AuthorMore in Author Profile »Charles Steindel has been editor of Business Economics, the journal of the National Association for Business Economics, since 2016. From 2014 to 2021 he was Resident Scholar at the Anisfield School of Business, Ramapo College of New Jersey. From 2010 to 2014 he was the first Chief Economist of the New Jersey Department of the Treasury, with responsibilities for economic and revenue projections and analysis of state economic policy. He came to the Treasury after a long career at the Federal Reserve Bank of New York, where he played a major role in forecasting and policy advice and rose to the rank of Senior Vice-President. He has served in leadership positions in a number of professional organizations. In 2011 he received the William F. Butler Award from the New York Association for Business Economics, is a fellow of NABE and of the Money Marketeers of New York University, and has received several awards for articles published in Business Economics. In 2017 he delivered Ramapo College's Sebastian J. Raciti Memorial Lecture. He is a member of the panel for the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters and of the Committee on Research in Income and Wealth. He has published papers in a range of areas, and is the author of Economic Indicators for Professionals: Putting the Statistics into Perspective. He received his bachelor's degree from Emory University, his Ph.D. from the Massachusetts Institute of Technology, and is a National Association for Business Economics Certified Business EconomistTM.
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