Why Use This Data Source In Your Models?
The coincident economic activity index for each US state describes the current state of the economy in that state, with a rise indicating an expansion of economic activity and a decline indicating a contraction in economic activity.
Coincident Economic Activity Index by State
State Coincident Indexes
Coincident Economic Activity Index
Index 2007=100, Seasonally Adjusted
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Yeo Johnson variable will also perform well.
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.27 p-value = 0.01 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.95 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of -0.37 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.03 with a p-value of 0.59 inidcates the data is unimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
The following states do not report for this feature: District of Columbia, Puerto Rico.
Federal Reserve Bank of Philadelphia, Coincident Economic Activity Index, retrieved from FRED, Federal Reserve Bank of St. Louis; January 27, 2020.
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