And speaking of the Philly Fed, here is a cool map of Coincident Indicators, broken down per state.
This is not a political breakdown per se — pink means negative growth, blue means expansion — but it obviously has huge implications for the coming election.
Someone (else) should do a correlation between Dem vs GOP states and compare that to Economically expanding versus contracting states.
via Federal Reserve Bank of Philadelphia
"The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for April 2008. The indexes increased in 26 states for the month, decreased in 16, and were unchanged in the remaining eight (a onemonth diffusion index of 20).
For the past three months, the indexes increased in 25 states, decreased in 21, and were unchanged in the other four (a three month diffusion index of eight). For comparison purposes, the Philadelphia Fed has developed a similar coincident index for the entire United States. The Philadelphia Fed’s U.S. index increased 0.1 percent in April and 0.3 percent in the past three months."
This implies that half of the States in these here United States are experiencing significant economic weakness.
State Coincident Indexes
Federal Reserve Bank of Philadelphia, APRIL 2008