The past three months have been better for states than any since April 2008.
That’s a visual estimate based on past maps from the Philly Fed, which have had a stongly red colour scheme for the past year and a half.
And for a scary picture look at March 2009.
According to the Philly Fed, the index (which evaluates non-farm employment, average manufacturing hours, unemployment, and pay) rose 0.1% overall in November:
The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for November 2009. In the past month, the indexes increased in 26 states, decreased in 16, and remained unchanged in eight (Colorado, Idaho, Indiana, Louisiana, New Jersey, Oklahoma, Oregon, and Utah) for a one-month diffusion index of 20. Over the past three months, the indexes increased in 20 states, decreased in 25, and remained unchanged in five (California, Iowa, New Mexico, Pennsylvania, and Rhode Island) for a three-month diffusion index of -10. 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 rose 0.1 per cent in November and 0.1 per cent over the past three months.
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