State coincidence indices up in 30 states in November

from Calculated threat on 12/29/2022 12:54:00 p.m

From the Philly Fed:

The Federal Reserve Financial institution of Philadelphia has launched the coincidence indices for the 50 states for November 2022. Over the previous three months, indices are up in 35 states, down in 11 states and flat in 4, for a three-month diffusion index of 48. Moreover, over the previous month indices rose in 30 statesfell in 13 states and remained steady in seven, for a one-month diffusion index of 34.
Added emphasis

Notes: These are coincident indices constructed from authorities employment information. A press release from the Philly Fed:

The Coincidence Indices mix 4 state-level indicators to summarize present financial situations right into a single statistic. The 4 state-level variables in every coincidence index are nonfarm payrolls, common hours of producing manufacturing employees hours, unemployment fee, and wages deflated by the CPI (US metropolis common). The pattern for every nation’s index is about to the pattern of its gross home product (GDP), so the long-run development of the nation’s index corresponds to the long-run development of its GDP.

Click on on the map for a bigger picture.

Here’s a map of the three-month change in Philly State’s coincident indicators. This card was all crimson in the course of the worst of the pandemic and in addition in the course of the worst of the Nice Recession.

The chart is generally optimistic on a 3 month foundation.

Supply: Philadelphia Fed.

And this is a chart of the variety of states with a month of accelerating exercise, in keeping with the Philly Fed.