North Dakota Leads The Country For Annual, Quarterly Growth In State Coincident Index
The Philadelphia Federal Reserve released data today on state coincident indexes for March, and booming energy-rich North Dakota led the country with 10.7% annual gain and a 2.9% quarterly gain.
From the Philly Fed:
“The coincident indexes combine four state-level indicators to summarize current economic conditions in a single statistic. The four state-level variables in each coincident index are nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price index (U.S. city average).”