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Philly Fed: State Coincident Indexes increased in 42 states in October

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Philly Fed: State Coincident Indexes increased in 42 states in October

From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for October 2018. Over the past three months, the indexes increased in 43 states, decreased in four states, and remained stable in three, for a three-month diffusion index of 78. In the past month, the...
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Wednesday: FOMC Statement, Industrial Production, PPI, Empire State Mfg

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Wednesday: FOMC Statement, Industrial Production, PPI, Empire State Mfg

From Tim Duy at Bloomberg: Not June, Not Likely July, More Likely September The best-laid plans can come undone by the tiniest of things. In this case a slip in the data—a low print on nonfarm payrolls that may prove no more than a statistical bump—put a June interest rate hike out of reach...
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BLS: State unemployment rates little changed in July

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BLS: State unemployment rates little changed in July

From the BLS: Regional and State Employment and Unemployment Summary Regional and state unemployment rates were generally little changed in July. Thirty states had unemployment rate increases from June, 8 states had decreases, and 12 states and the District of Columbia had no change, the U.S. Bureau of Labor Statistics reported today. Forty-nine states...
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NY Fed: Empire State Manufacturing Activity indicates faster expansion in January

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NY Fed: Empire State Manufacturing Activity indicates faster expansion in January

From the NY Fed: Empire State Manufacturing Survey The January 2014 Empire State Manufacturing Survey indicates that business activity expanded for New York manufacturers, and did so at a faster pace than in recent months. The general business conditions index rose ten points to 12.5, its highest level in more than a year. The...
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Philly Fed: State Coincident Indexes increased in 46 states in November

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Philly Fed: State Coincident Indexes increased in 46 states in November

From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for November 2013. In the past month, the indexes increased in 46 states, decreased in two states (Alaska and Ohio), and remained stable in two (New Hampshire and Washington), for a one-month diffusion index of...
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Philly Fed: State Coincident Indexes increased in 44 states in October

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Philly Fed: State Coincident Indexes increased in 44 states in October

This was released this week by the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for October 2013. In the past month, the indexes increased in 44 states, decreased in four states, and remained stable in two, for a one-month diffusion index of 80. Over...
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GDP drag from State and Local Governments

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GDP drag from State and Local Governments

One of the reasons I expect GDP to pick up over the next few years is that state and local government spending will probably stop being a drag on GDP, and might even add a little to GDP going forward. However the 2nd estimate of GDP showed state and local government spending was still a...
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BLS: State unemployment rates were “little changed” in May

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BLS: State unemployment rates were “little changed” in May

From the BLS: Regional and state unemployment rates were little changed in May Regional and state unemployment rates were little changed in May. Twenty-five states had unemployment rate decreases, 17 states had increases, and 8 states and the District of Columbia had no change, the U.S. Bureau of Labor Statistics reported today. … Nevada...
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NY Fed: Empire State Manufacturing index increases in June

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NY Fed: Empire State Manufacturing index increases in June

From the NY Fed: Empire State Manufacturing Survey The June 2013 Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved modestly. The general business conditions index—the most comprehensive of the survey’s measures—rose nine points to 7.8. Nevertheless, most other indicators in the survey fell. The new orders index slipped six points...
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Update: Federal and State improving Fiscal Situation

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Update: Federal and State improving Fiscal Situation

A couple of updates … From Goldman Sachs economist Alec Phillips: The Federal Budget Deficit: Shrinking Faster The federal deficit continues to shrink. Through the first six months of the fiscal year, revenues have come in higher than expected, while spending has come in lower than expected. As a result we are lowering our...
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