It is not often that we get to post positive economic news concerning Michigan. The Federal Reserve Bank of Philadelphia has provided just that with its Coincident Index. This index takes into account nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price index. The Federal Reserve notes that the "trend for each state's index is set to the trend of its GDP, so long-term growth in the state's index matches long-term growth in its GDP." Over the past three months, Michigan was the only state to grow by more than 1%. See the link below for more details.