by Calculated Risk on 8/25/2021 11:34:00 AM
From the Philly Fed:
three months, the indexes increased in 48 states, decreased in one state, and remained stable in one, for a three-month
diffusion index of 94. Additionally, in the past month, the indexes increased in 46 states, decreased in one state, and
remained stable in three, for a one-month diffusion index of 90. 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 1.9 percent
over the past three months and 0.8 percent in July.
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 almost all positive on a three month basis.
Source: Philly Fed.
In July, 48 states had increasing activity including minor increases.