Michigan's Coincident Indexes and Economic Gain

by Eric Stokan 31. March 2010 04:44

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.

http://www.philadelphiafed.org/research-and-data/regional-economy/indexes/coincident/

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About the Authors

We are the Center for Urban Studies Economic Development Unit.  We have several authors who contribute directly and indirectly to this blog.

Lyke Thompson, Ph.D.

Director of the Center for Urban Studies and Professor in Wayne State University's Political Science Department, has specialized his research on the urban political and economic environment.  A primary focus has been centered on municipal economic development, urban policy, and the determinants of economic growth.

Eric Stokan, MA.

Research assistant at the Center for Urban Studies Economic Development Unit.  Mr. Stokan serves as the lead researcher of the Unit, analyzing economic data using various statistical techniques.  Mr. Stokan is interested in questions concerning municipal economic growth and industry mix as well as determinants of local economic incentive adoption.

Mary Hennessey

Research technician at the Center for Urban Studies Economic Development Unit.  Ms. Hennessey researches the effectiveness of local economic development incentives.  Specifically, she has conducted a thorough investigation of brownfields and is currently working on public transit.