Source: Federal Reserve Bank of Philadelphia
Release: State Leading Indexes
The leading index for each state predicts the six-month growth rate of the state's coincident index. In addition to the coincident index, the models include other variables that lead the economy: state-level housing permits (1 to 4 units), state initial unemployment insurance claims, delivery times from the Institute for Supply Management (ISM) manufacturing survey, and the interest rate spread between the 10-year Treasury bond and the 3-month Treasury bill.
Federal Reserve Bank of Philadelphia, Leading Index for North Dakota [NDSLIND], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NDSLIND, March 23, 2023.