by Calculated Risk on 11/28/2021 12:01:00 PM
From the Philly Fed:
past three months, the indexes increased in 49 states and decreased in one state, for a three-month diffusion index of 96.
Additionally, in the past month, the indexes increased in 48 states and decreased in two states, for a one-month diffusion
index of 92. For comparison purposes, the Philadelphia Fed has also developed a similar coincident index for the entire
United States. The Philadelphia Fed’s U.S. index increased 1.4 percent over the past three months and 0.4 percent in
Note: These are coincident indexes constructed from state employment data. An explanation from the Philly Fed:
Click on map for larger image.
Here is a map of the three month change in the Philly Fed state coincident indicators. This map was all red during the worst of the Pandemic and also at the worst of the Great Recession.
The map is almost all positive on a three-month basis.
Source: Philly Fed.
And here is a graph is of the number of states with one month increasing activity according to the Philly Fed.
In October, 48 states had increasing activity including minor increases.
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