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The Honolulu Advertiser
Updated at 3:12 p.m., Monday, October 27, 2008

Economic index for Hawaii falls for sixth straight month

Advertiser Staff

The coincident index of economic activity for the state of Hawai'i fell in September, the sixth consecutive month the index has declined.

Hawai'i was one of 28 states where the index fell. The index, which measures economic indicators thought to closely coincide with the overall economy, is compiled by the Federal Reserve Bank of Philadelphia. An increase in the index indicates economic expansion, while a decrease indicates contraction.

Hawai'i's coincident index hit a high of 121.17 in March and has declined every month since then. Its September level was 119.20.

Employment, inflation-adjusted income, unemployment and average hours worked in manufacturing are used in calculating the index.