Only three states — Alabama, Illinois and New Mexico — saw declines in the Philadelphia Fed’s coincident indexes in February, while 45 advanced, according to data released Tuesday. (Hawaii and Wyoming were flat). Some of the strongest states include energy-exposed North Dakota (up 7% year-on-year) and Texas (year-on-year growth of 4.9%).
Nationally, the Philadelphia Fed’s coincident index rose 0.3% in February for a 2.8% year-on-year gain.
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