Sluggish Philly Fed

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The Federal Reserve Bank of Philadelphia’s State Coincident Indexes remained in a lackluster range in February. According to today’s release by the Philadelphia Fed, the three-month diffusion index increased slightly to 54 from a revised 50 in January. The three-month index has been stuck in a tepid range since November. The more volatile one-month diffusion index rose to 36 in February from a revised 22 in January. In February, Connecticut joined the group of states posting the most significant three-month declines, along with Montana and West Virginia, while California, Arizona, and Indiana posted the largest increases. The exhibit below is reproduced from the press release.



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