Economic index for Hawaii falls for seventh straight month
Advertiser Staff
An index of Hawai'i's current economic indicators fell for the seventh consecutive month in October.
The coincident index produced by the Federal Reserve Bank of Philadelphia shows Hawaii's index fell by 0.1 percent, in line with the overall U.S. economy's decline.
The index measures economic indicators thought to closely coincide with the overall economy such as jobs, unemployment, average hours worked in manufacturing and inflation-adjusted income. An increase in the number indicates economic expansion, while a decline indicates contraction.
Hawai'i's coincident index hit a high of 121.34 in March and has declined every month since then. Its October level was 119.22.