State Coincident Indexes in May 2026
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Movements in the Federal Reserve Bank of Philadelphia’s state coincident indexes in May were again, generally, fairly modest, but with a somewhat wider range than we’ve recently seen. In the one-month changes, none had increases as high as 1 percent, though seven had gains above .5 percent. On the other side, five states had declines, with Kentucky, Hawaii, and Alabama’s fairly noticeable (more than .2 percent). Over the three months since February, thirteen states had increases of 1 percent or higher, with West Virginia’s 2.70 percent far and away on top. Four states saw declines, with Alabama’s -.33 percent being the largest. Over the last twelve months, Ohio, Nevada, Idaho, California, and North Dakota clocked increases above 3 percent. Five states were down, with West Virginia’s 1.55 percent loss substantially larger than any other state’s.
The independently estimated national estimates of growth over the last three and twelve months were, respectively, .67 and 1.91 percent. These seem to be consistent with the state figures.
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.