This Great Graphic comes from the Philadelphia Federal Reserve. It depicts the 3-month change of its coincident indicator that it does for each of the 50 states shortly after the monthly employment report is released.
The coincident index is meant to track GDP and is based on four variables: non-farm payroll, average hours worked in manufacturing, the unemployment rate and real wages and salaries.
This lends credence to our view (which we note more Wall Street economists are coming over to), that the US economy is proving to be more resilient to the tightening of fiscal policy than both the political right and left have argued.
Great Graphic: Philly Fed Indicator by State
Reviewed by Marc Chandler
on
March 23, 2013
Rating:
Reviewed by Marc Chandler
on
March 23, 2013
Rating:
