Philly Fed Indexes Stay Strong in June

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 The Federal Reserve Bank of Philadelphia’s State Coincident Indexes were solid again in June, with the three-month diffusion index remaining at 84, equal to the reading in May, and only slightly lower than the 92 posted in April. The indexes increased in 46 states with only Connecticut, Kentucky, Hawaii and Alabama posting index declines over the three-month period. The indexes of Alabama and Kentucky have declined each month since March, while Connecticut’s index fell m/m in April, but has remained steady since then. Hawaii’s index hit it’s recent peak in April before declining modestly in May and June. Eleven states posted over 1.0% increases over the last three months, led by West Virginia and Delaware. The exhibit below is reproduced from the press release.

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