Philly Fed August State Indexes Strong Again

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The Federal Reserve Bank of Philadelphia’s State Coincident Indexes registered another solid gain in August as the three-month diffusion index increased to 92 from 86 in July. This brings the three-month diffusion index back to a level last seen in April 2026. The indexes increased in 48 states with only Hawaii and Alabama posting index declines over the three-month period. However, the indexes of both of these states actually improved slightly m/m. Seventeen states posted over 1.0% increases over the last three months, led by Nevada and Rhode Island. The exhibit below is reproduced from the press release.



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