Philly Fed: State Coincident Indexes Weaker

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The Federal Reserve Bank of Philadelphia released its delayed September 2025 State Coincident Indexes this morning. The indexes of 41 states increased over the past three months, while those of eight states declined and one remained unchanged. As a result, the three-month diffusion index fell to 66 in September from 78 in August. This was the lowest reading for the three-month diffusion index since September 2024. Similarly, the one-month diffusion index dropped 30 points in September to 38, its lowest level since July 2024. West Virginia and Delaware each saw three-month index declines of greater than 1%, while Colorado and Alabama posted index increases of greater than 1%. The exhibit below is reproduced from the press release. The next release of State Coincident Indexes is scheduled for January 9, 2026.



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