The Federal Reserve Bank of Philadelphia’s state coincident indexes in September were again soft, and the results were very similar to August’s. 19 states show declines from August, with West Virginia down nearly 1 percent. The largest increase was .65 percent in Maryland.in the rate of growth. Over the 3 months ending in September 10 states had declines, with West Virginia’s -2.2 percent the largest, while Montana was also down more than 1 percent. Maryland had the largest gain, at 2.25 percent. The results are less lackluster at the 12-month horizon, with Maryland up 7.8 percent and Massachusetts and Vermont both up more than 6 percent.. 3 states had increases of less than 1 percent, with New Jersey up a mere .20 percent.
The independently estimated national figures of growth over the last 3 months (.7 percent) and 12 months (3.1 percent) both look to be roughly in line with what the state figures suggest.