Global| Apr 02 2020State Coincident Indexes in January
|in:Viewpoints
Summary
The Philadelphia Federal Reserve Bank has issued estimates of state coincident indexes for January. These indexes now take into account the annual labor market benchmark revisions. Additionally, movements in proprietors’ income are [...]
The Philadelphia Federal Reserve Bank has issued estimates of state coincident indexes for January. These indexes now take into account the annual labor market benchmark revisions. Additionally, movements in proprietors’ income are now assumed to affect a state’s index. Given that today’s release refers to January, and the massive events since then, the actual numbers released should be of little interest (the estimates for February will be released on April 10). For the 12 months ending in January, South Carolina saw the largest increase in activity: 5 percent. Arizona, Utah, Washington (state; the index is not computed for DC), Maryland, and Florida also saw gains about 4 percent. Louisiana and West Virginia experienced declines, and a swath of 15 states, almost entirely in the mid-section of the nation, saw gains of less than 2 percent (Alaska and Vermont were also in that group).
Charles Steindel
AuthorMore in Author Profile »Charles Steindel has been editor of Business Economics, the journal of the National Association for Business Economics, since 2016. From 2014 to 2021 he was Resident Scholar at the Anisfield School of Business, Ramapo College of New Jersey. From 2010 to 2014 he was the first Chief Economist of the New Jersey Department of the Treasury, with responsibilities for economic and revenue projections and analysis of state economic policy. He came to the Treasury after a long career at the Federal Reserve Bank of New York, where he played a major role in forecasting and policy advice and rose to the rank of Senior Vice-President. He has served in leadership positions in a number of professional organizations. In 2011 he received the William F. Butler Award from the New York Association for Business Economics, is a fellow of NABE and of the Money Marketeers of New York University, and has received several awards for articles published in Business Economics. In 2017 he delivered Ramapo College's Sebastian J. Raciti Memorial Lecture. He is a member of the panel for the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters and of the Committee on Research in Income and Wealth. He has published papers in a range of areas, and is the author of Economic Indicators for Professionals: Putting the Statistics into Perspective. He received his bachelor's degree from Emory University, his Ph.D. from the Massachusetts Institute of Technology, and is a National Association for Business Economics Certified Business EconomistTM.