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Community Indicators Home > Regionalism > Regionalism Ind 1: Coastal Empire Coincident Economic Index

 

Indicator 1:

        Coastal Empire
Coincident Economic Index

Trend
vs. Georgia








 

What does it measure?

Regional economic activity is measured by the Coastal Empire Coincident Economic Index. The index is developed from underlying indicators of current economic activity important in our region. The variables are employment, port activity, electricity sales, retail sales, hotel room rentals, airport boardings and consumer confidence in the South Atlantic states. The data are adjusted for typical seasonal swings and the effect of inflation so that the combined index clearly reflects regional economic activity. The data is summarized and analyzed in a complementary quarterly publication, the Economic Monitor, and is available by email and at the Center or Regional Analysis website.
 

Why is it important?

The index measures the current economic heartbeat of the region. Overall, a strong economy provides opportunities for income and employment growth and thereby increases the standard of living. The health of the regional economy affects the well-being of its citizens, businesses and institutions.

 

How are we doing?

The Coastal Empire coincident economic index (in red below) increased 1.9% on an over-the-year basis to 158.0 through the first quarter of 2013. Growth in employment, port activity and tourism are supporting the economy.  Employment in the service sector of the economy is increasing steadily while the goods-producing sector of the economy continues to gain forward momentum. Although consumer confidence fell somewhat in the first quarter, retail sales activity held up.
The leading index (in blue below) is designed to provide a short-term forecast of the region’s economic activity in the upcoming six to nine months. The forecasting index increased for the fifth consecutive quarter. Noticeably improved conditions in the housing market and continued healing in the regional labor market account for this. Improving growth is expected through the remainder of 2013.


COASTAL EMPIRE ECONOMIC INDEXES
Source: AASU Center for Regional Analysis


 

COASTAL EMPIRE COINCIDENT
Year Coincident Index Leading Index
2000 137.2 138.9
2001 136.2 133.5
2002 136.3 133.1
2003 137.0 136.2
2004 143.9 147.8
2005 150.2 154.0
2006 156.3 153.6
2007 161.4 146.3
2008 158.0 123.1
2009 151.8 108.4
2010 151.9 114.7
2011 153.3 118.1
2012 157.0 123.7

2013 (YTD)

158.0 127.0

 

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