Philly FedOverall, the US is growing at a pretty modest pace. But some states aren’t doing so well.
As the Philly Fed’s latest coincident indexes survey shows, seven states — North Dakota, Alaska, Wyoming, Wisconsin, Illinois, Louisiana, and Mississippi — saw economic activity contract during the three months that ended in December.
It’s worth pointing out that North Dakota, Alaska, and Wyoming also saw economic activity contract during the three months that ended in September.
Meanwhile, Michigan and Oklahoma went sideways, while the other 41 states continued to creep upward. But only a handful of states saw growth over 1.0% (aka the dark green ones).
These coincident indexes combine different state-level indicators to give us a picture of economic conditions for that state.
But, on the bright side, we’re doing much better than we were during the darkest days of the recession, when all of those states were flashing red. And we have the history to show it. Every month, the Philly Fed publishes a color-coded map tracking economic activity across the country. Red shows economic contraction, while blue or green show expansion.
The maps start in 2005 when the economy was booming, then got really ugly. We’ve put them all together below.