Tuesday, April 24, 2012

North Dakota Leads the Country for Annual Growth in State Coincident Index with a 10.7% Increase

The Philadelphia Federal Reserve released data today on state coincident indexes for March, and the booming, energy-rich North Dakota economy led the country with a 10.7% annual gain, and was second in the country with a 2.9% quarterly increase behind energy-rich West Virginia's 3.44% gain in the first quarter of 2012. 

From the Philly Fed:

"The coincident indexes combine four state-level indicators to summarize current economic conditions in a single statistic. The four state-level variables in each coincident index are nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price index (U.S. city average)."


At 4/24/2012 10:54 AM, Blogger VangelV said...

No surprise. As long as drilling activity remains high the economic benefit would accrue to state residents and the state government even if the producers are losing money.

At 4/24/2012 10:57 AM, Blogger Benjamin Cole said...

Actually, federal stimulus and federal rural lard to North Dakota still dwarfs money from the oil drilling.

At 4/24/2012 10:58 AM, Blogger Benjamin Cole said...

And when is Dr. Perry going to start a campaign against the federal regulation and socialization of milk production?

At 4/24/2012 11:39 AM, Blogger Buddy R Pacifico said...

Interesting to note North Dakota's State Coincident Index growth rates from 1980:

1980s Growth of 1.59%!

1990s Growth of 31.33%

2000s Growth of 21.85%

Growth from Jan 2010 -> March 2012 of 30.48%!


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