The Federal Reserve Bank of Philadelphia’s state coincident indexes in were soft. 17 states reported declines from July, with West Virginia down nearly 1 percent. The largest increase was.7 percent in neighboring Maryland.in the rate of growth. Over the 3 months ending August 7 states had declines, with West Virginia’s -1.4 percent being the largest. Maryland had the largest gain, at 3 percent. The results look somewhat better at the 12-month horizon, with Massachusetts up 7.8 percent and Maryland’s index rising 7.7 percent. Virginia was the other state with an increase higher than 5 percent. 4 states had increases of less than 1 percent, with New Jersey’s a mere .25 percent.
The independently estimated national figures of growth over the last 3 months (.6 percent) and 12 months (3.2 percent) both look to be roughly in line with what the state figures suggest.