Coincident Index: A single measure of economic health

The Coincident Index (CI) is a monthly composite economic indicator published by the Philadelphia Federal Reserve.  The CI provides a snapshot of economic conditions in each state. An increase in a state’s CI over time indicates an expansion in economic activity within the state while a declining CI signals a contraction in the state’s economy.

The Coincident Index combines four state-level indicators into a single statistic:

  • non-farm employment
  • average hours worked in manufacturing
  • the unemployment rate
  • wage and salary disbursements

Monthly historical data is available.