The Coincident Index (CI) is a monthly composite economic indicator published by the Philadelphia Federal Reserve. It provides a snapshot of economic conditions in each state. An increase in a state’s CI over time indicates an expansion in economic activity 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, and wage and salary disbursements. The data for these indicators are gathered from the Bureau of Labor Statistics (BLS) and the Bureau of Economic Analysis (BEA).