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Fed: Pennsylvania’s economy weakening
Tim Stuhldreher//November 1, 2011
The Fed this morning released its September leading indexes for the 50 states, a measure of predicted economic activity over the next six months.
Pennsylvania’s index was -1.0, due to an increase in initial unemployment claims and a slowdown in business already under way.
The index “suggests contraction in the state’s economy through the first quarter of 2012,” the Fed said.
The Fed predicted contraction for nine state economies besides Pennsylvania’s, and expansion in the other 40. Overall, the nation’s coincident index will grow by 1.4 percent over the next six months, the Fed said.
