by Calculated Risk on 10/26/2022 01:48:00 PM
From the Philly Fed:
past three months, the indexes increased in 44 states, decreased in four states, and remained stable in two, for a three-month
diffusion index of 80. Additionally, in the past month, the indexes increased in 38 states, decreased in 10 states, and
remained stable in two, for a one-month diffusion index of 56. 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 increased 1.0 percent
over the past three months and 0.4 percent in September.
Note: These are coincident indexes constructed from state employment data. An explanation from the Philly Fed:
Here is a map of the three-month change in the Philly Fed state coincident indicators. This map was all red during the worst of the Pandemic and also at the worst of the Great Recession.
The map is mostly positive on a three-month basis.
Source: Philly Fed.
In September 39 states had increasing activity including minor increases.