Nearly Half the Country Is Not Growing Economically, New Philly Fed Data Show

Despite the U.S. economy being projected to grow around 2 percent in the fourth quarter, new Federal Reserve Bank of Philadelphia data show that half the country is not recording any growth, and other states are barely expanding. The regional central bank recently published the November Coincident Economic Activity Indexes for all 50 states, using four key indicators: non-farm payroll employment, the unemployment rate, average hours worked in manufacturing, and wages and salaries. The final three-month reading showed that the indexes climbed in 25 states, tumbled in 21 states, and remained stable in four (Hawaii, Kansas, Nebraska, and Louisiana). Nevada was the top state in the country for growth, followed by Florida, Georgia, Minnesota, North Dakota, and South Carolina....