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Thursday, April 17, 2014

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Bank Releases April’s Coincident Indexes

For immediate release
Contact: Katherine Dibling, E-mail Public Affairs Specialist, (215) 574-4119

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The Federal Reserve Bank of Philadelphia today released the coincident indexes for April 2012. The coincident indexes combine four state-level indicators to summarize current economic conditions in a single statistic.

About the April Release PDF

  • In the past month, the indexes increased in 46 states, decreased in two (Rhode Island and Alaska), and remained stable in two (Nevada and Mississippi). Over the past three months, the indexes increased in 48 states, decreased in one (Rhode Island), and remained stable in one (Alaska).

Pennsylvania

  • The coincident index increased 0.3 percent. The unemployment rate decreased, while the average hours worked in manufacturing increased. However, payroll employment decreased. The state's economic activity as measured by the coincident index has risen 3.2 percent over the past 12 months.

New Jersey

  • The coincident index rose 0.2 percent. Payroll employment remained stable, and average hours worked in manufacturing increased. However, the unemployment rate increased. The state's economic activity as measured by the coincident index has increased 2.9 percent over the past 12 months.

Delaware

  • The coincident index rose 0.2 percent. Payroll employment remained stable, and average hours worked in manufacturing increased. However, the unemployment rate increased. The state's economic activity as measured by the coincident index has increased 2.9 percent over the past 12 months.

About the Coincident Indexes

  • The indicators are nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price index.
  • The Bank also issues leading indexes for the states. These indexes predict the six-month growth rate of the state’s coincident indexes. The next release date for the leading indexes is Tuesday, May 29, 2012.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.

Related REsources

Latest Chart for State Coincident Indexes

Download the map for this month’s release. (179 KB)

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Marilyn Wimp, ABC E-mail
Manager of Media Relations
(215) 574-4197
(267) 254-4555 (cell)

Katherine Q. Dibling E-mail
Public Affairs Specialist
(215) 574-4119
(215) 694-5125 (cell)

Daneil Mazone E-mail
Media Relations Representative
(215) 574-7163
(267) 535-1808 (cell)