Indicators New England Economic September 2003

Indicators
New England Economic
September 2003
Federal Reserve Bank of Boston
Labor Market Conditions
Income
Consumer Prices
Consumer Confidence
Real Estate
Merchandise Exports
Electricity Sales
State Tax Collections
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New England Economic
Editor
Tom DeCoff
Indicators
September 2003
Graphic Designer
Julie Weinstein
Production Coordinator
Ann Eggleston
2
Summary of Latest Data in This Issue
4
Labor Market Conditions
13
Income
14
Consumer Prices
15
Consumer Confidence
resource for researchers and members
16
Real Estate
of the public interested in the New
20
Merchandise Exports
23
Electricity Sales
Indicators Editor, by e-mail at
24
State Tax Collections
[email protected] or by
25
Sources on the Internet
New England Economic Indicators (issn
0548-4448) is published monthly by the
Federal Reserve Bank of Boston as a
England economy. For more information on the data, contact Tom DeCoff,
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Barn
Fairlee, Vermont
Photograph by Julie Weinstein
Summary
Summary of Latest Data in This Issue
New England
United States
Percent Change at
Annual Rate from
Current
Period
Labor Market Conditions
Total Nonagricultural Employment (thousands of jobs, SA)
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Employment by Industry or Sector (thousands of jobs, SA)
Private (Total Nonagricultural less Government)
Government
Manufacturing
Construction
Manufacturing Production Workers (NSA)
Average Weekly Hours
Average Hourly Earnings (dollars)
Help Wanted Advertising Index (1987=100, NSA)
Average Weekly Initial Claims for Unemployment Insurance (SA)
Prior
Period
Year Earlier
Period
6,873.8
1,640.9
605.1
3,225.5
615.2
483.1
304.0
-1.6
-8.4
-0.4
1.3
-4.9
8.3
-3.5
-0.8
-1.3
-0.5
-1.2
-0.5
0.9
1.7
5,899.6
974.2
775.3
282.4
-0.4
-8.3
-4.5
4.8
39.7
16.28
23
18,460
Prior
Period
Year Earlier
Period
129,870
-0.4
-0.3
-0.8
-1.1
-4.5
-3.7
108,397
21,473
14,612
6,804
-0.4
-0.6
-5.7
1.1
-0.3
0.1
-4.6
1.5
-21.3
1.5
*
*
0.0
1.8
-17.9
-2.9
39.6
15.70
38
398,500
-23.6
0.8
*
*
-0.8
3.1
-13.6
3.0
Prior
Period
Year Earlier
Period
5.1
4.9
4.5
5.6
3.9
5.7
4.1
4.9
4.4
4.4
5.4
4.7
4.9
3.8
Jul 2003
Jul 2003
New England Economic Indicators
Current
Period
Jul 2003
Current
Period
Unemployment Rate (percent, SA)
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Percent Change at
Annual Rate from
Current
Period
Prior
Period
Year Earlier
Period
Jul 2003
5.2
5.2
4.9
5.4
4.3
5.6
4.1
2
6.2
6.4
5.8
September 2003
Summary
Summary of Latest Data in This Issue
New England
United States
Percent Change at
Annual Rate from
Current
Period
Income (millions of dollars)
Total Personal Income (SAAR)
Wage and Salary Disbursements (SAAR)
Consumer Prices**
Consumer Price Index (1982-84 = 100, NSA)
Consumer Confidence
Consumer Confidence Index (U.S. average for 1985 = 100)***
Real Estate
Repeat-Sales Home Price Index (1987:Q1 = 100, NSA)
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Sales of Existing Homes (thousands of units, SAAR)
Prior
Period
Year Earlier
Period
Current
Period
3.2
3.2
2.5
1.0
9,066,660
5,040,209
2.1
3.7
*
-22.2
6.9
6.3
4.1
7.3
5.7
10.6
6.1
*
8.6
7.6
7.9
8.8
7.9
12.7
4.4
NA
*
*
*
*
*
*
-2.9
-2.6
3.6
17.0
12.6
-32.7
150,000
120,000
389.5
441.6
330.6
318.2
*
*
*
*
*
*
*
5.8
2.7
4.3
10.2
-2.4
12.4
-7.9
180,220
*
*
*
*
*
*
NA
1.7
1.8
2.6
-0.8
5.1
130,638
Q1 2003
Merchandise Exports
Total Merchandise Exports (millions of dollars, NSA)
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
State Tax Collections
Total State Tax Collections (millions of dollars, NSA)
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Prior
Period
Year Earlier
Period
Q1 2003
537,517
300,239
Jul 2003
3.8
3.7
3.4
2.2
1.3
3.5
*
-14.0
214.59
4.6
6.0
6,688
*
5.8
*
*
*
*
*
*
3.4
10.1
7.4
11.7
8.5
-4.8
*
1.2
*
0.9
Jul 2003
203.0
Aug 2003
183.7
Aug 2003
70.4
Q2 2003
81.3
Q2 2003
196.35
165.31
207.08
206.65
171.30
209.90
189.48
NA
Jul 2003
Housing Permits Authorized (housing units, SA)
Single Units
Value of Construction Contracts (index, 1980 = 100; total is NSA)
Residential (SA)
Nonresidential Building (NSA)
Nonbuilding (NSA)
Percent Change at
Annual Rate from
Jul 2003
3,887
3,286
412.1
429.4
442.9
265.0
Q2 2003
Q2 2003
8,528
2,104
483
4,548
481
326
586
Q1 2003
Q1 2003
NA
2,244
548
3,871
804
531
* Period-to-period comparisons of these data are not meaningful.
** The consumer price index for New England is for the Boston area and is published every other month. More recent U.S. data may be available on page 14.
*** U.S. consumer confidence is seasonally adjusted. New England consumer confidence is not seasonally adjusted.
SA: seasonally adjusted
NSA: not seasonally adjusted
SAAR: seasonally adjusted annual rate
NA: not available
September 2003
3
http://www.bos.frb.org/economic/neei/neei.htm
Labor Market Conditions
Nonagricultural Employment (thousands of jobs, seasonally adjusted)
United States
New England
CT
ME
MA
NH
RI
VT
1,693.2
1,681.1
1,668.2
1,679.2
1,661.7
1,664.5
1,663.9
1,662.9
1,662.4
1,660.2
1,661.7
1,655.0
1,656.2
1,655.7
1,656.5
1,653.0
1,640.9
603.5
608.2
605.8
608.6
608.1
607.8
606.3
605.9
603.8
604.2
605.4
603.6
604.6
605.2
605.3
605.3
605.1
3,323.2
3,329.3
3,251.6
3,325.0
3,266.3
3,259.9
3,251.7
3,238.4
3,226.4
3,220.9
3,215.1
3,209.1
3,202.6
3,209.5
3,215.5
3,222.1
3,225.5
622.1
627.3
618.6
625.4
618.4
617.4
622.5
620.7
619.7
616.7
618.2
615.9
616.3
615.3
615.6
617.8
615.2
476.7
478.5
478.9
477.8
478.9
479.5
480.0
478.3
479.3
480.5
479.7
479.6
478.9
479.9
480.9
479.9
483.1
298.7
302.1
299.7
302.8
299.0
299.0
299.1
299.5
300.1
299.9
302.9
301.8
301.7
303.4
303.8
304.9
304.0
Total Nonagricultural Employment
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
131,790
131,830
130,376
131,867
130,204
130,224
130,289
130,408
130,409
130,198
130,356
130,235
130,084
130,062
129,986
129,914
129,870
7,017.4
7,026.5
6,922.8
7,018.8
6,932.4
6,928.1
6,923.5
6,905.7
6,891.7
6,882.4
6,883.0
6,865.0
6,860.3
6,869.0
6,877.6
6,883.0
6,873.8
Source: U.S. Bureau of Labor Statistics.
Employment by Industry
Nonagricultural Employment
Percent Change, July 2002 to July 2003
NBER-Dated Recession
Index 1990 = 100
125
Natural Resources
and Mining
120
Construction
United States
115
Manufacturing
110
Wholesale Trade
105
Retail Trade
Transportation,
Warehousing, and Utilities
100
New England
Information
95
90
Financial Activities
JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Professional and
Business Services
Education and
Health Services
New England
United States
Leisure and
Hospitality
Nonagricultural Employment
Other Services
Percent Change, July 2002 to July 2003
Government
United States
-5
New England
-4
-3
-2
-1
0
1
2
3
Note: These data are not seasonally adjusted.
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
-1.5
-1.0
-0.5
New England Economic Indicators
0.0
0.5
1.0
1.5
2.0
4
September 2003
Labor Market Conditions
Employment by Industry (thousands of jobs, seasonally adjusted)
United States
New England
CT
ME
MA
NH
RI
VT
6,054.1
6,048.7
5,936.7
6,046.4
5,947.8
5,939.4
5,935.2
5,922.2
5,906.8
5,902.2
5,895.6
5,883.1
5,879.0
5,887.4
5,900.9
5,901.7
5,899.6
1,451.3
1,436.7
1,419.4
1,438.0
1,415.5
1,413.3
1,415.6
1,417.3
1,414.9
1,413.8
1,410.5
1,408.3
1,410.0
1,409.9
1,410.8
1,408.6
1,399.9
504.0
506.1
502.9
506.7
504.4
504.8
503.4
502.8
501.3
501.1
502.2
500.1
501.1
501.2
501.2
500.7
501.1
2,898.6
2,899.2
2,822.1
2,895.4
2,836.1
2,830.5
2,821.5
2,808.5
2,796.8
2,792.0
2,789.0
2,783.8
2,777.9
2,784.6
2,793.0
2,797.0
2,801.3
538.6
541.5
530.7
541.5
531.0
529.7
532.5
532.8
531.8
531.4
529.5
527.0
527.4
526.4
528.8
528.5
528.6
412.3
413.3
412.8
412.4
412.4
413.0
414.0
412.4
413.1
414.4
413.7
413.9
412.9
414.3
415.5
414.3
416.7
249.3
251.9
248.9
252.4
248.4
248.1
248.2
248.4
248.9
249.5
250.7
250.0
249.7
251.0
251.6
252.6
252.0
963.3
977.8
986.1
972.4
984.6
988.7
988.3
983.5
984.9
980.2
987.4
981.9
981.3
981.6
976.7
981.3
974.2
241.9
244.5
248.8
241.2
246.2
251.2
248.3
245.6
247.5
246.4
251.2
246.7
246.2
245.8
245.7
244.4
241.0
99.6
102.0
102.9
101.9
103.7
103.0
102.9
103.1
102.5
103.1
103.2
103.5
103.5
104.0
104.1
104.6
104.0
424.6
430.1
429.5
429.6
430.2
429.4
430.2
429.9
429.6
428.9
426.1
425.3
424.7
424.9
422.5
425.1
424.2
83.5
85.8
87.9
83.9
87.4
87.7
90.0
87.9
87.9
85.3
88.7
88.9
88.9
88.9
86.8
89.3
52.0
64.4
65.2
66.1
65.4
66.5
66.5
66.0
65.9
66.2
66.1
66.0
65.7
66.0
65.6
65.4
65.6
52.0
49.4
50.2
50.8
50.4
50.6
50.9
50.9
51.1
51.2
50.4
52.2
51.8
52.0
52.4
52.2
52.3
52.0
943.2
899.9
816.8
895.4
811.8
809.0
809.3
805.5
802.8
798.4
793.7
789.9
788.5
785.0
784.0
778.3
775.3
235.7
226.7
212.9
226.4
213.2
212.1
211.7
210.6
209.9
209.3
208.6
206.6
206.7
205.4
204.6
203.5
202.3
79.5
74.6
68.2
74.3
68.1
67.1
67.3
67.3
68.0
67.2
65.1
64.6
64.5
64.7
64.5
63.1
63.4
407.9
387.8
347.6
384.5
341.7
343.5
344.9
342.8
341.2
339.7
338.3
337.7
336.7
334.0
333.7
331.0
328.5
102.5
97.4
85.2
97.4
85.8
84.9
84.3
84.4
83.7
82.8
81.5
80.7
80.9
81.5
82.1
82.3
82.7
71.2
67.8
62.3
67.0
62.5
61.9
61.4
61.0
60.8
60.6
61.1
61.3
60.8
60.6
60.4
59.9
60.0
46.3
45.6
40.6
45.8
40.5
39.5
39.7
39.4
39.2
38.8
39.1
39.0
38.9
38.8
38.7
38.5
38.4
Total Private Employment*
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
110,998
110,712
108,893
110,709
108,756
108,745
108,763
108,864
108,869
108,642
108,780
108,647
108,537
108,536
108,502
108,431
108,397
Government Employment
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
20,793
21,118
21,483
21,158
21,448
21,479
21,526
21,544
21,540
21,556
21,576
21,588
21,547
21,526
21,484
21,483
21,473
Manufacturing Employment
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
17,265
16,441
15,304
16,382
15,309
15,233
15,196
15,143
15,091
15,020
14,982
14,922
14,874
14,795
14,746
14,683
14,612
Source: U.S. Bureau of Labor Statistics.
* Total private employment is calculated as total nonagricultural employment less government employment.
Table continued
September 2003
5
http://www.bos.frb.org/economic/neei/neei.htm
Labor Market Conditions
Employment by Industry, continued (thousands of jobs, seasonally adjusted)
United States
New England
CT
ME
MA
NH
RI
VT
64.6
65.4
63.6
66.1
62.8
62.2
62.4
62.7
62.6
62.1
61.0
60.2
60.6
60.8
60.3
59.5
59.1
29.2
29.8
29.3
29.9
29.4
29.4
29.4
29.2
29.5
29.3
28.8
28.6
28.7
28.8
28.9
28.7
29.0
129.2
139.0
140.1
139.6
140.2
139.8
140.1
139.9
140.1
139.0
138.3
137.6
134.3
132.0
132.3
131.4
131.6
25.0
27.2
27.8
27.5
27.2
27.3
28.3
28.1
27.9
28.2
28.2
27.1
27.3
26.9
26.9
26.6
27.0
18.2
19.0
19.4
19.1
19.0
19.3
19.2
19.1
19.1
19.3
19.3
19.3
19.5
19.5
19.9
20.3
20.6
14.9
15.2
14.8
15.3
14.5
14.5
14.6
14.4
14.7
15.1
15.0
15.3
15.2
15.3
14.9
14.8
15.1
317.5
312.2
308.0
313.7
314.0
310.1
312.4
306.6
293.3
292.2
306.8
315.4
319.2
318.6
317.8
318.7
313.0
122.7
123.6
124.5
124.1
124.6
125.1
125.4
125.5
125.4
124.9
123.5
122.7
121.8
121.7
121.8
122.8
124.3
596.8
592.3
578.3
592.8
577.6
571.6
576.8
577.3
574.9
575.8
577.8
580.1
578.9
580.3
580.5
581.2
573.0
137.1
137.3
138.7
137.5
138.7
139.4
140.8
140.4
139.6
138.9
138.2
138.9
138.2
137.9
138.9
139.2
137.7
79.6
79.3
80.4
79.3
81.3
81.0
81.9
80.5
79.7
78.5
81.5
82.2
82.7
83.2
83.4
83.3
83.0
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
215.9
209.9
202.2
210.0
201.3
201.7
200.6
201.6
200.2
198.8
198.2
198.1
199.9
201.4
200.6
200.3
198.4
51.8
51.8
51.4
51.5
51.9
51.8
51.4
51.2
51.6
50.9
51.3
50.9
50.7
50.6
51.1
51.7
51.5
492.9
486.1
454.7
480.9
457.0
456.3
454.9
449.5
447.2
443.7
438.6
434.6
434.8
438.6
440.5
440.4
444.3
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Construction Employment
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
6,788
6,828
6,734
6,845
6,703
6,719
6,728
6,720
6,745
6,731
6,738
6,700
6,720
6,760
6,786
6,798
6,804
281.0
295.6
294.9
297.5
293.1
292.5
294.0
293.4
293.9
293.0
290.6
288.1
285.6
283.3
283.2
281.3
282.4
Trade, Transportation, and Utilities Employment
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
26,222
25,986
25,496
25,953
25,513
25,458
25,430
25,439
25,406
25,378
25,376
25,346
25,338
25,321
25,282
25,236
25,192
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Professional and Business Services Employment
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
16,670
16,480
16,011
16,467
15,973
16,008
16,008
16,036
16,014
15,972
16,015
16,043
15,980
15,989
16,002
16,008
16,081
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
50.9
50.5
49.0
50.3
50.0
48.9
48.4
48.3
48.1
48.2
47.5
46.7
46.8
48.3
48.1
48.2
49.6
20.8
20.7
20.4
20.9
20.2
20.3
20.7
21.1
21.0
20.6
20.3
20.6
20.6
20.8
21.0
21.0
21.2
NA: not available. The Bureau of Labor Statistics reports that employment data for several industries across the New England states could not be seasonally adjusted with sufficient precision.
New England Economic Indicators
6
September 2003
Labor Market Conditions
Employment by Industry, continued (thousands of jobs, seasonally adjusted)
Education and Health Services Employment
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
Leisure and Hospitality Employment
United States
CT
ME
MA
VT
United States
ME
MA
NH
RI
15,108
15,644
16,184
15,637
16,194
16,241
16,273
16,315
16,357
16,373
16,405
16,430
16,452
16,483
16,509
16,504
16,503
245.3
252.7
259.1
251.4
254.4
253.2
259.9
263.8
264.3
263.8
260.1
264.8
263.5
266.2
265.2
260.4
258.6
97.5
100.7
104.7
100.6
105.0
105.0
104.6
104.6
105.4
105.6
106.3
106.4
106.7
107.0
106.8
107.0
107.3
545.5
554.9
567.4
556.5
567.0
568.5
569.6
569.0
569.8
570.7
570.1
571.1
569.5
572.9
574.7
574.6
574.6
46.0
47.9
50.2
48.0
50.4
50.5
50.6
50.5
50.6
51.0
52.2
50.0
50.0
50.6
52.0
53.4
53.4
11,860
12,032
11,970
12,127
11,918
11,940
11,975
12,032
12,069
12,019
12,132
12,084
12,050
12,043
12,026
12,047
12,060
55.9
56.5
56.8
56.7
57.7
57.5
56.3
56.3
56.4
56.4
57.7
57.7
58.1
57.0
57.0
56.6
57.6
274.6
279.5
285.3
280.1
298.4
298.8
290.3
284.6
280.6
279.1
281.0
279.8
281.2
284.1
287.9
292.9
298.5
58.3
59.5
60.8
59.2
62.1
61.4
61.7
60.6
60.2
61.1
61.7
61.6
61.7
62.1
62.8
63.5
63.8
46.3
46.8
48.2
47.2
49.3
49.2
48.9
48.8
48.2
48.0
48.1
47.8
47.1
47.6
47.7
47.8
47.6
Information Employment
United States
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
3,630
3,629
3,420
3,620
3,410
3,401
3,383
3,392
3,382
3,353
3,328
3,308
3,305
3,303
3,294
3,287
3,279
Financial Activities Employment
Other Services Employment
CT
MA
United States
CT
MA
United States
MA
RI
46.4
44.7
41.1
44.3
41.2
40.8
40.2
40.2
40.0
40.0
40.2
40.1
40.4
40.1
40.0
40.1
39.9
111.1
111.4
99.2
110.1
98.6
97.2
96.2
96.4
95.8
95.5
96.4
95.4
94.7
94.7
94.3
93.6
93.2
7,688
7,808
7,843
7,803
7,830
7,830
7,851
7,872
7,880
7,889
7,902
7,916
7,930
7,956
7,971
7,977
7,984
143.1
142.9
143.0
143.2
143.2
143.4
143.3
143.1
142.3
142.6
141.1
141.4
141.8
142.4
143.0
143.1
142.4
228.1
230.7
229.7
231.4
230.0
230.0
229.7
230.4
228.7
229.7
230.0
229.2
229.0
229.3
229.4
230.3
231.0
5,168
5,258
5,348
5,265
5,330
5,340
5,346
5,343
5,352
5,335
5,334
5,329
5,323
5,322
5,320
5,323
5,316
111.1
116.0
118.3
117.9
124.0
123.2
117.3
116.9
116.8
117.2
117.0
116.9
117.4
117.2
118.0
119.9
124.9
20.8
21.2
22.0
21.2
22.5
22.4
22.8
22.8
22.4
22.4
22.2
22.2
22.5
22.7
23.2
23.5
23.9
Source: U.S. Bureau of Labor Statistics.
Manufacturing Employment
Total Private Employment
NBER-Dated Recession
Index 1990 = 100
NBER-Dated Recession
Index 1990 = 100
United States
105
125
100
120
95
115
United States
90
110
85
105
80
New England
100
75
New England
95
70
65
90
JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
September 2003
7
JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
http://www.bos.frb.org/economic/neei/neei.htm
Labor Market Conditions
Unemployment (seasonally adjusted)
United States
New England
CT
ME
MA
NH
RI
VT
2.8
3.7
4.9
3.8
4.9
5.0
5.0
5.0
5.0
5.1
5.0
5.0
5.2
5.2
5.1
5.1
5.2
2.2
3.3
4.3
3.4
4.4
4.4
4.5
4.5
4.6
4.7
4.9
5.0
5.2
5.3
4.9
4.9
5.2
3.4
3.9
4.4
4.1
4.4
4.4
4.4
4.5
4.7
4.8
4.5
4.6
4.5
4.8
4.5
4.5
4.9
2.6
3.7
5.3
3.8
5.4
5.6
5.5
5.5
5.4
5.5
5.2
5.4
5.7
5.5
5.6
5.6
5.4
2.8
3.5
4.7
3.7
4.7
4.9
4.8
5.0
5.0
5.0
4.6
3.9
4.1
4.0
3.9
3.9
4.3
4.1
4.8
5.1
5.1
4.9
5.1
5.3
5.4
5.4
5.5
5.2
5.2
5.3
5.3
5.4
5.7
5.6
2.9
3.6
3.7
3.6
3.8
3.8
3.7
3.7
3.7
3.7
4.0
4.0
4.1
4.2
4.1
4.1
4.1
202.7
272.2
366.5
282.8
371.3
379.6
379.8
382.3
382.3
389.1
375.5
377.1
395.6
390.9
383.4
388.1
391.3
40.0
57.4
76.8
60.3
77.7
78.5
79.3
80.7
82.2
84.0
86.3
88.7
93.5
94.5
87.1
87.5
92.3
23.7
27.0
30.1
28.1
30.1
30.2
30.5
31.0
32.1
32.9
31.7
31.9
31.2
33.4
31.2
30.8
34.0
87.7
124.9
185.1
128.4
189.7
194.6
193.4
192.5
189.6
193.0
180.3
185.0
196.8
188.9
192.4
194.2
187.3
19.2
24.7
33.3
26.1
33.1
34.4
34.2
35.1
35.1
35.2
33.2
28.2
29.1
28.8
27.5
28.1
30.9
22.3
26.0
28.2
27.8
27.5
28.7
29.4
30.2
30.4
30.8
29.7
29.5
30.3
30.3
30.9
33.0
32.2
9.7
12.2
13.1
12.1
13.2
13.3
13.0
12.8
12.9
13.2
14.2
13.9
14.6
15.0
14.3
14.5
14.6
7,358.3
7,422.3
7,556.2
7,420.8
7,569.4
7,580.3
7,588.0
7,597.6
7,598.5
7,596.5
7,574.8
7,577.2
7,565.6
7,570.9
7,556.3
7,562.6
7,573.9
1,783.5
1,755.4
1,772.9
1,753.3
1,774.5
1,777.5
1,778.2
1,781.3
1,782.7
1,783.3
1,777.5
1,785.2
1,782.7
1,785.2
1,776.3
1,781.4
1,786.2
688.2
685.6
686.2
684.6
687.3
686.6
686.0
687.1
687.2
687.7
697.9
700.0
695.5
697.5
692.9
690.8
692.8
3,317.8
3,393.2
3,486.4
3,394.3
3,494.3
3,500.5
3,505.5
3,508.4
3,505.2
3,505.7
3,454.9
3,453.1
3,451.4
3,451.2
3,451.5
3,448.6
3,450.0
691.8
700.2
705.6
700.9
706.5
706.9
708.7
709.3
709.5
706.5
719.1
716.4
715.7
714.7
711.5
714.2
716.9
543.1
548.1
556.4
548.0
557.6
559.2
559.8
560.8
562.6
561.5
573.7
571.9
568.4
569.2
572.1
574.4
573.6
333.9
339.8
348.7
339.7
349.2
349.6
349.8
350.7
351.3
351.9
351.8
350.6
352.0
353.2
352.0
353.2
354.6
Unemployment Rate (percent)
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
4.0
4.8
5.8
4.6
5.8
5.8
5.7
5.8
5.9
6.0
5.7
5.8
5.8
6.0
6.1
6.4
6.2
Number Unemployed (thousands)
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
5,689
6,842
8,389
6,610
8,443
8,366
8,321
8,405
8,637
8,711
8,302
8,450
8,445
8,786
8,998
9,358
9,062
Civilian Labor Force (thousands)
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
142,588
143,783
144,875
143,616
144,786
145,123
145,634
145,393
145,180
145,150
145,838
145,857
145,793
146,473
146,485
147,096
146,540
Source: U.S. Bureau of Labor Statistics.
New England Economic Indicators
8
September 2003
Labor Market Conditions
Average Weekly Initial Claims for Unemployment Insurance (seasonally adjusted)
United States
New England
CT
ME
MA
NH
RI
VT
299,350
406,792
404,542
397,000
386,800
397,800
416,900
410,600
389,000
410,500
386,700
408,600
423,300
447,200
431,600
425,900
398,500
14,334
20,719
21,330
21,730
19,013
21,378
22,203
22,052
21,011
21,338
20,114
21,582
21,153
20,753
21,247
21,473
18,460
3,460
5,250
5,493
5,197
4,682
5,155
5,393
5,554
5,200
5,775
4,864
5,628
5,409
5,822
4,786
4,962
4,451
1,409
1,605
1,560
1,729
1,466
1,447
1,537
1,624
1,556
1,436
1,684
1,581
1,407
1,324
1,549
1,525
1,375
6,536
9,731
10,320
10,587
9,515
10,556
10,849
10,632
10,235
10,186
9,859
10,246
10,150
10,036
10,883
10,782
9,586
557
1,264
1,200
1,304
815
1,157
1,543
1,313
1,090
1,175
1,227
1,260
1,369
924
1,044
1,151
735
1,710
1,954
1,798
1,886
1,686
1,889
1,881
1,945
1,918
1,802
1,723
1,833
1,712
1,749
1,837
1,850
1,514
662
915
960
1,027
850
1,174
1,001
984
1,012
964
757
1,033
1,107
898
1,148
1,203
798
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
Source: United States: The Conference Board, Inc. New England and states: U.S. Department of Labor and Federal Reserve Bank of Boston.
Help Wanted Advertising (index 1987 = 100, seasonally adjusted)
United States
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
New England
82
58
44
58
44
41
43
40
40
39
41
40
39
36
35
38
38
50
38
27
37
28
26
25
25
24
22
27
24
25
23
22
23
23
Boston
54
41
28
37
27
28
27
27
26
25
29
27
28
24
NA
NA
NA
Hartford
Providence
32
22
16
26
21
13
13
12
12
11
17
12
9
11
12
15
11
57
44
35
47
38
34
35
31
31
26
32
30
33
32
31
31
34
Source: The Conference Board, Inc.
Unemployment Rate
Unemployment Rate
July 2002
Percent
NBER-Dated Recession
Percent
July 2003
7
10
6
8
5
United States
4
6
3
2
4
1
New England
0
2
United
States
JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
September 2003
9
New
England
CT
ME
MA
NH
RI
VT
http://www.bos.frb.org/economic/neei/neei.htm
Labor Market Conditions
Metro Areas: Nonagricultural Employment (thousands of jobs, seasonally adjusted)
Connecticut
Bridgeport
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
187.2
186.4
186.2
186.1
186.0
186.2
186.0
186.2
185.8
185.3
186.4
186.1
186.7
186.9
186.4
186.1
185.9
Maine
New Haven- New LondonMeriden
Norwich
Danbury
Hartford
89.4
88.4
89.8
88.6
90.0
90.1
90.7
90.6
90.7
90.5
91.2
90.9
91.3
91.0
90.7
91.3
92.5
619.2
613.6
608.5
612.7
608.2
608.0
607.6
606.9
606.4
604.7
609.3
604.6
603.4
603.7
604.4
603.1
601.7
263.7
259.7
260.1
257.6
259.1
259.1
259.0
260.3
259.7
259.4
262.6
261.7
261.1
261.0
260.4
259.4
258.6
StamfordNorwalk
140.8
142.8
145.7
142.5
145.1
146.5
146.9
146.4
146.1
145.9
146.8
146.3
146.0
145.6
146.4
145.9
145.7
209.9
205.4
199.3
205.2
199.7
200.1
196.0
196.9
196.7
196.1
198.5
198.6
199.0
197.6
196.5
196.9
196.7
Waterbury
86.7
84.9
84.0
84.7
84.4
84.2
83.3
84.0
83.5
83.4
85.2
84.5
84.3
83.9
82.6
82.8
83.6
LewistonAuburn
Portland
46.3
46.0
46.2
46.3
46.5
46.5
46.1
45.8
45.9
46.0
45.8
45.8
45.6
45.7
46.0
45.9
46.1
152.1
156.2
156.2
156.6
155.9
158.1
157.1
156.9
156.7
156.4
157.2
155.5
155.1
154.3
156.4
155.4
156.2
Massachusetts
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
BarnstableYarmouth
Boston
Brockton
FitchburgLeominster
63.2
64.6
65.1
64.7
65.0
65.0
65.3
65.2
66.2
65.6
66.1
66.3
65.8
64.9
64.6
63.7
64.0
2,040.3
2,040.6
1,980.4
2,040.3
1,978.9
1,977.5
1,973.0
1,971.2
1,966.8
1,958.8
1,964.4
1,957.6
1,948.6
1,950.9
1,949.6
1,942.5
1,943.0
100.0
100.5
100.8
100.9
101.5
101.0
100.3
101.1
101.2
101.4
101.8
101.8
101.1
100.5
101.2
100.7
101.2
53.0
52.4
51.7
51.9
51.8
52.3
51.9
51.7
51.7
51.8
53.0
53.0
52.6
52.1
51.9
52.3
52.3
New Hampshire
Manchester
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
106.7
108.6
107.6
108.5
107.3
107.3
108.0
108.7
107.9
107.7
107.9
108.0
108.1
107.9
107.9
108.3
107.8
Nashua
99.4
99.1
95.1
99.1
95.1
95.0
95.2
95.2
95.0
94.9
94.9
95.0
94.3
94.1
94.0
93.1
93.0
PortsmouthRochester
Lawrence
164.8
163.6
157.2
163.4
157.0
156.0
156.0
155.9
155.5
155.5
156.9
156.0
155.8
154.8
154.4
153.5
154.0
Rhode Island
Lowell
New
Bedford
Pittsfield
Springfield
Worcester
129.9
130.5
126.1
129.9
124.5
124.1
125.6
125.8
124.9
124.8
123.2
123.8
123.5
122.9
121.9
121.4
119.7
66.3
65.8
65.2
65.4
65.3
64.7
65.1
64.8
65.1
65.0
66.1
65.3
64.7
64.4
64.0
63.8
64.0
42.5
42.7
42.8
43.1
42.4
42.2
42.9
42.7
43.1
43.0
43.5
43.2
43.0
42.8
42.6
42.6
41.9
261.5
262.6
259.6
262.5
258.8
258.9
260.3
261.1
261.7
260.2
260.1
259.2
258.6
257.4
256.3
254.8
254.7
234.3
236.6
231.3
236.8
231.7
231.9
230.9
230.5
229.4
227.2
227.6
225.8
224.8
223.7
223.7
222.5
225.3
Vermont
ProvidenceFall River-Warwick
BarreMontpelier
Burlington
532.4
530.2
530.0
528.6
532.3
531.2
530.6
529.4
529.1
528.3
531.2
529.5
528.2
529.4
529.1
528.7
533.2
33.7
34.4
34.3
34.7
34.2
34.3
34.2
34.4
34.6
34.6
35.1
34.9
34.9
35.1
35.1
34.9
35.0
108.0
110.0
107.8
110.3
108.0
107.7
107.9
107.3
107.0
105.9
108.2
107.6
107.7
107.3
107.9
107.8
108.6
124.2
126.1
125.8
126.4
125.8
126.0
126.6
127.6
128.1
127.8
127.6
127.9
127.4
125.7
125.2
127.4
127.2
Source: U.S. Bureau of Labor Statistics and Federal Reserve Bank of Boston.
New England Economic Indicators
10
September 2003
Labor Market Conditions
Metro Areas: Unemployment Rate (thousands of jobs, seasonally adjusted)
Connecticut
Bridgeport
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
2.7
4.2
5.4
4.2
5.1
5.4
5.8
5.7
6.0
6.1
5.6
5.6
6.2
6.8
5.9
5.6
6.0
Danbury
1.5
2.5
3.3
2.5
3.2
3.3
3.5
3.4
3.5
3.6
3.2
3.1
3.4
3.7
3.2
3.0
3.3
Hartford
2.3
3.4
4.5
3.4
4.3
4.6
5.0
5.1
5.4
5.5
4.9
5.0
5.6
6.1
5.1
4.8
5.3
Maine
New Haven- New London- StamfordMeriden
Norwich
Norwalk
2.3
3.3
4.1
3.4
4.1
4.3
4.6
4.5
4.7
4.8
4.3
4.5
4.9
5.1
4.6
4.4
4.9
2.3
2.9
3.8
3.1
3.8
3.9
4.0
4.2
4.4
4.4
4.0
4.1
4.6
4.9
4.1
4.0
4.4
1.4
2.4
3.2
2.4
3.2
3.3
3.4
3.3
3.4
3.4
3.1
2.9
3.3
3.7
3.1
3.0
3.3
Waterbury
Bangor
2.8
4.7
6.0
4.7
5.7
6.2
6.6
6.5
6.8
7.2
6.0
6.1
6.8
6.9
6.3
6.4
6.4
2.4
2.8
2.9
3.0
2.9
3.0
3.0
2.9
3.2
3.3
2.8
2.9
2.8
3.1
2.9
3.0
3.5
LewistonAuburn
3.2
3.9
4.1
4.1
4.0
4.2
4.3
4.3
4.3
4.5
4.4
4.0
4.2
4.4
4.3
4.1
4.8
Portland
1.8
2.2
2.7
2.4
2.8
2.7
2.8
2.8
2.8
2.8
2.5
2.5
2.6
2.7
2.6
2.5
3.0
Massachusetts
BarnstableYarmouth
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
3.1
3.6
4.4
3.7
4.6
4.9
4.7
4.7
4.2
4.2
3.8
4.0
4.4
4.8
4.8
5.0
4.8
Boston
Brockton
2.2
3.3
4.9
3.3
4.8
5.0
5.0
5.1
5.1
5.3
4.5
4.7
5.0
5.3
5.1
5.0
4.7
3.0
4.0
5.4
4.0
5.2
5.6
5.6
5.8
5.8
5.9
4.8
5.1
5.7
5.9
5.7
5.6
5.3
New Hampshire
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
Manchester
Nashua
PortsmouthRochester
2.5
3.4
4.6
3.7
4.8
4.9
5.0
5.0
5.1
5.1
4.5
3.9
4.1
4.1
4.0
3.9
4.6
2.8
4.3
6.3
4.7
6.5
6.5
6.7
6.8
6.5
6.8
5.7
4.9
5.1
5.1
5.1
5.0
6.1
2.3
3.0
4.4
2.9
4.3
4.9
4.9
5.2
4.9
4.9
4.0
3.4
3.6
3.8
3.7
3.8
3.7
FitchburgLeominster
3.5
5.0
7.3
5.0
7.4
7.5
7.6
7.9
7.8
7.9
6.6
6.8
7.4
7.6
7.7
7.5
7.1
Lawrence
Lowell
New
Bedford
Pittsfield
Springfield
3.7
5.4
7.9
5.4
7.7
8.0
8.0
8.3
8.1
8.4
7.3
7.2
7.6
7.8
7.7
7.3
7.3
2.5
4.2
6.5
4.3
6.5
6.8
6.7
6.9
6.9
7.1
6.0
6.3
6.7
6.9
6.9
6.5
6.3
5.1
6.0
7.5
6.0
7.2
9.9
7.8
8.1
8.0
8.3
6.6
7.4
7.8
8.3
8.1
7.8
7.1
3.5
4.1
5.2
4.1
5.6
6.1
5.5
5.6
5.5
5.4
4.6
5.1
5.1
5.5
5.4
5.1
5.3
3.1
3.9
5.2
3.9
5.2
5.5
5.4
5.8
5.7
5.9
4.9
5.1
5.5
5.8
5.7
5.5
5.4
Rhode Island
Vermont
ProvidenceFall River-Warwick
Burlington
4.0
4.8
5.4
5.0
5.1
5.5
5.6
5.8
5.9
6.1
5.3
5.2
5.6
5.8
5.8
5.9
5.7
1.9
2.5
3.0
2.5
2.8
3.0
2.9
3.0
3.0
3.1
3.2
3.1
3.4
3.6
3.6
3.4
3.2
Worcester
2.7
4.0
5.9
4.0
5.7
6.2
6.0
6.3
6.3
6.7
5.6
6.0
6.3
6.7
6.6
6.3
5.9
Source: U.S. Bureau of Labor Statistics and Federal Reserve Bank of Boston.
September 2003
11
http://www.bos.frb.org/economic/neei/neei.htm
Labor Market Conditions
Average Weekly Hours (manufacturing production workers, not seasonally adjusted)
United States
New England
CT
ME
MA
NH
RI
VT
40.3
40.5
40.1
39.9
40.6
40.8
40.5
40.6
41.2
40.1
40.1
40.3
39.9
40.2
40.5
39.6
40.5
40.6
39.9
39.7
40.4
41.0
40.6
40.6
41.3
40.4
40.4
40.8
40.4
40.4
40.5
39.7
41.7
41.6
41.5
41.0
41.5
42.0
41.8
41.9
41.9
41.6
41.1
41.3
41.3
41.2
41.1
40.4
39.8
39.9
40.0
39.4
39.0
40.5
40.3
40.3
40.8
40.0
39.4
40.0
40.3
39.8
39.6
40.0
40.3
40.8
39.3
39.5
40.9
41.1
40.5
40.5
41.6
40.3
40.5
41.0
40.3
40.4
40.7
39.4
40.6
39.8
39.8
39.1
39.1
40.0
39.7
40.0
40.5
39.9
40.3
40.5
39.9
39.8
39.9
39.1
39.4
38.7
38.5
37.4
37.8
39.4
39.2
38.7
40.0
38.3
38.4
39.3
38.6
39.6
39.5
38.7
39.7
40.0
39.6
39.9
40.1
40.0
39.4
40.0
39.4
39.8
40.0
40.0
40.1
40.1
40.2
39.9
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
Source: U.S. Bureau of Labor Statistics and Federal Reserve Bank of Boston.
Average Hourly Earnings (manufacturing production workers, dollars, not seasonally adjusted)
United States
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
New England
14.76
15.29
14.76
15.23
15.30
15.41
15.45
15.51
15.65
15.61
15.62
15.62
15.63
15.64
15.69
15.70
15.34
15.88
15.51
16.00
15.98
16.07
16.00
16.03
16.30
16.12
16.09
16.21
16.22
16.23
16.26
16.28
CT
ME
MA
NH
RI
VT
16.42
17.25
16.54
17.26
17.22
17.45
17.46
17.37
17.68
17.26
17.42
17.73
17.57
17.68
17.74
17.85
14.72
15.55
15.05
15.93
15.65
15.71
15.82
15.85
16.13
16.11
16.15
16.05
16.03
16.23
16.17
16.24
15.76
16.25
16.01
16.49
16.47
16.43
16.26
16.38
16.67
16.48
16.37
16.44
16.55
16.49
16.55
16.60
13.98
14.21
14.02
14.01
14.27
14.60
14.52
14.57
14.85
14.92
14.70
14.87
14.93
14.86
14.82
14.37
12.68
12.75
12.65
12.70
12.79
12.84
12.80
12.81
12.84
12.78
12.78
12.82
12.84
12.87
12.86
12.87
14.18
14.34
14.16
14.31
14.31
14.31
14.40
14.38
14.43
14.50
14.49
14.50
14.51
14.52
14.54
14.54
Source: U.S. Bureau of Labor Statistics and Federal Reserve Bank of Boston.
Average Weekly Hours
Average Hourly Earnings
Manufacturing Production Workers
Percent Change, July 2002 to July 2003
Manufacturing Production Workers
Percent Change, July 2002 to July 2003
United States
United States
New England
New England
Connecticut
Connecticut
Maine
Maine
Massachusetts
Massachusetts
New Hampshire
No change
New Hampshire
Rhode Island
Rhode Island
Vermont
Vermont
No change
-2
-1
New England Economic Indicators
0
1
2
3
0
4
12
0.5
1.0
1.5
2.0
2.5
3.0
3.5
September 2003
Income
Total Personal Income (by place of residence, millions of dollars, seasonally adjusted annual rate)
2000 Annual
2001 Annual
2002 Annual
2001 Quarter I
2002 Quarter I
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
United States
New England
CT
ME
MA
NH
RI
VT
8,398,871
8,677,490
8,891,092
8,651,750
8,772,204
8,881,691
8,927,635
8,982,839
9,066,660
505,001
521,283
530,315
523,495
524,249
531,524
532,247
533,241
537,517
141,413
145,548
148,211
146,423
147,269
148,249
148,840
148,486
149,514
32,867
34,492
35,991
34,234
35,481
35,858
36,141
36,483
36,908
241,963
248,778
250,966
250,661
247,765
252,257
251,714
252,127
253,786
41,265
42,779
43,704
42,913
43,055
43,865
43,847
44,047
44,447
30,741
32,061
33,277
31,817
32,779
33,202
33,467
33,659
34,129
16,752
17,627
18,168
17,447
17,900
18,093
18,238
18,439
18,733
Wage and Salary Disbursements* (by place of work, millions of dollars, seasonally adjusted annual rate)
2000 Annual
2001 Annual
2002 Annual
2001 Quarter I
2002 Quarter I
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
United States
New England
CT
ME
MA
NH
RI
VT
4,834,254
4,947,350
4,968,353
4,957,440
4,930,075
4,969,358
4,979,106
4,994,874
5,040,209
294,610
301,307
298,305
305,098
297,356
299,298
298,652
297,912
300,239
79,105
81,161
80,268
82,082
80,636
80,185
80,534
79,716
80,278
17,217
17,975
18,501
17,888
18,351
18,420
18,560
18,673
18,805
151,330
153,638
150,121
156,597
149,500
151,282
149,959
149,742
150,796
21,914
22,531
22,752
22,670
22,432
22,882
22,824
22,868
23,076
16,080
16,593
17,115
16,537
16,952
17,012
17,223
17,272
17,501
8,965
9,410
9,549
9,324
9,485
9,517
9,552
9,641
9,783
* Wage and salary disbursements are a component of total personal income.
Source: U.S. Bureau of Economic Analysis.
Personal Income
Percent Change from Year Earlier
Wage and Salary Disbursements
NBER-Dated Recession
Percent Change from Year Earlier
12
12
10
10
United States
8
8
6
6
4
4
2
2
0
0
New England
–2
NBER-Dated Recession
United States
New England
–2
–4
–4
Q1
Q1
Q1
Q1
Q1
Q1
Q1 Q1
Q1
Q1 Q1 Q1 Q1 Q1
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
September 2003
Q1
Q1
Q1
Q1
Q1
Q1
Q1 Q1
Q1
Q1 Q1 Q1 Q1
Q1
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
13
http://www.bos.frb.org/economic/neei/neei.htm
Consumer Prices
Consumer Price Index (index 1982-1984 = 100, except the Recreation and Education & Communication categories, where index
December 1997 = 100, not seasonally adjusted)
United States
All Items
Food
Shelter
172.2
177.1
179.9
177.5
180.1
180.7
181.0
181.3
181.3
180.9
181.7
183.1
184.2
183.8
183.5
183.7
183.9
167.8
173.1
176.2
173.5
176.0
176.0
176.4
176.5
176.8
177.3
177.5
178.3
178.6
178.4
178.8
179.6
179.7
193.4
200.6
208.1
201.4
208.8
209.6
209.2
209.7
209.6
209.5
210.9
211.6
212.1
212.1
212.8
213.0
213.8
137.9
150.2
143.6
154.8
146.8
146.8
147.2
144.4
143.6
144.2
146.1
148.3
154.5
153.1
153.7
159.1
159.4
153.3
154.3
152.9
154.4
153.7
153.9
154.0
154.9
155.2
154.2
155.5
158.9
161.0
159.3
157.2
156.8
156.8
260.8
272.8
285.6
273.1
286.6
287.3
287.7
289.2
290.5
291.3
292.6
293.7
294.2
294.6
295.5
296.3
297.6
103.3
104.9
106.2
105.0
106.2
106.3
106.2
106.4
106.4
106.5
106.9
107.2
107.4
107.4
107.6
107.6
107.7
102.5
105.2
107.9
104.8
107.6
108.9
109.5
109.4
109.3
109.2
109.7
109.7
109.4
109.0
108.6
108.5
108.9
181.3
186.1
190.5
186.2
190.3
191.0
191.3
191.8
191.8
191.4
191.8
192.5
193.0
193.1
193.2
193.0
193.2
183.3
191.4
196.3
192.1
195.7
199.1
200.4
199.8
202.8
202.3
203.0
175.1
182.2
185.5
184.2
184.4
186.0
185.6
187.5
186.9
189.3
188.2
211.2
224.6
241.1
225.0
241.8
246.5
248.2
246.3
247.3
248.2
250.4
130.9
152.6
133.9
154.7
130.0
130.3
138.2
148.6
166.3
151.1
152.9
152.0
152.4
149.7
154.1
150.3
150.2
151.2
151.8
156.3
152.9
152.9
347.9
367.5
382.8
368.6
385.0
385.4
391.0
391.8
392.5
395.8
397.7
104.0
105.3
106.8
105.9
106.8
106.7
107.9
108.7
108.8
112.8
113.3
102.7
107.0
106.8
105.8
106.2
110.1
110.3
109.6
110.1
108.5
108.1
197.0
204.8
213.0
204.9
212.5
216.5
217.7
215.5
217.6
218.2
219.3
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
Transportation
Medical
Care
All Items,
Education & Less Food
Recreation Communication & Energy
Fuel &
Utilities
Boston*
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 September
2002 November
2003 January
2003 March
2003 May
2003 July
* The Boston CPI is published every other month and covers parts of Connecticut, Maine, Massachusetts, and New Hampshire.
Source: U.S. Bureau of Labor Statistics.
Consumer Price Index
Consumer Price Index
All Items
Percent Change, July 2002 to July 2003
NBER-Dated Recession
Percent Change from Year Earlier
8
All Items
7
Food
Shelter
6
Fuel & Utilities
5
Boston
Transportation
4
Medical Care
3
Recreation
Boston
Education &
Communication
United States
2
1
United States
All Items, Less
Food & Energy
0
JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
New England Economic Indicators
0
14
5
10
15
20
September 2003
Consumer Confidence
Consumer Confidence Index (index U.S. average for 1985 = 100, not seasonally adjusted except for United States)
Overall
Consumer Confidence
United States New England
2000 Annual
2001 Annual
2002 Annual
2001 August
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
2003 August
139.0
106.6
96.8
114.0
94.5
93.7
79.6
84.9
80.7
78.8
64.8
61.4
81.0
83.6
83.5
77.0
81.3
138.9
110.0
91.5
124.7
90.5
89.2
74.2
82.5
62.2
74.4
62.8
57.6
66.4
85.1
72.7
56.8
70.4
MA
Assessment of
Present Situation
United States New England
133
99
97
—
—
—
78
—
—
63
—
—
77
—
—
77
—
181.0
141.7
94.6
144.5
93.1
88.5
77.2
78.3
69.6
75.3
63.5
61.4
75.2
67.3
64.2
63.0
61.6
194.9
161.4
94.8
176.6
113.7
94.3
70.8
79.9
66.0
63.9
44.5
38.0
52.0
71.4
46.5
42.8
52.6
Expectations about
the Future
MA
United States
155
116
68
—
—
—
48
—
—
28
—
—
31
—
—
41
—
110.9
83.2
98.0
93.7
95.5
97.2
81.1
89.3
88.1
81.1
65.7
61.4
84.8
94.5
96.4
86.3
94.4
New England
102.0
75.7
89.4
90.2
75.1
85.8
76.5
84.3
59.6
81.5
75.1
70.8
76.0
94.3
90.2
66.2
82.3
MA
117
88
115
—
—
—
97
—
—
86
—
—
108
—
—
101
—
Source: United States and New England: The Conference Board, Inc. Massachusetts: Mass Insight/MassDevelopment Project. Consumer confidence data for New England are collected by the
Conference Board in conjunction with the Conference Board’s overall U.S. confidence series, and are evaluated on the same basis. Statistics for both the United States and New England are indexed
to the U.S. average for 1985. Mass Insight adjusts the Massachusetts figures to be generally comparable to the Conference Board figures. Consumers’ assessments of their present situation and
expectations about the future are components of the overall consumer confidence index.
Consumer Confidence – New England
Consumer Confidence – United States
Index U.S. Average for 1985 = 100
NBER-Dated Recession
Index U.S. Average for 1985 = 100
NBER-Dated Recession
220
200
Assessment of
Present Situation
180
200
180
160
160
140
140
120
Assessment of
Present Situation
Overall Consumer
Confidence
120
100
100
80
80
Expectations about
the Future
60
40
60
Overall Consumer
Confidence
40
20
0
20
0
JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
September 2003
15
Expectations about
the Future
JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
http://www.bos.frb.org/economic/neei/neei.htm
Real Estate
Repeat-Sales Home Price Index (index 1987:Q1=100, not seasonally adjusted)
United States
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
175.98
190.33
204.17
185.50
202.42
206.55
209.62
212.20
214.59
New England
CT
ME
MA
NH
RI
VT
146.19
163.27
182.72
156.31
180.78
185.92
189.94
193.12
196.35
128.93
141.04
155.47
136.24
153.67
158.22
161.13
162.81
165.31
158.27
175.25
193.99
168.99
192.00
197.60
201.20
204.99
207.08
151.94
170.96
191.84
163.43
190.00
195.09
199.38
203.05
206.65
127.62
143.47
160.47
136.73
158.80
163.34
166.83
168.94
171.30
146.71
163.71
189.20
155.57
186.20
193.53
199.84
204.70
209.90
157.20
169.09
181.82
164.35
181.46
183.64
184.65
186.69
189.48
StamfordNorwalk
BarnstableYarmouth
138.76
152.21
167.35
146.84
166.74
169.62
173.01
174.38
176.47
134.98
154.79
179.55
146.41
177.02
184.28
188.29
194.05
198.55
Massachusetts
Connecticut
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
Bridgeport
Danbury
Hartford
New HavenMeriden
116.18
128.41
142.35
123.55
140.91
144.44
148.37
150.19
153.12
120.96
132.51
146.07
128.08
144.25
149.33
150.32
150.85
154.15
130.67
141.58
154.55
137.30
152.62
157.52
159.72
161.05
163.07
115.67
126.83
139.86
122.28
137.70
142.49
144.91
147.05
150.05
Massachusetts (continued)
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
Lowell
Springfield
Worcester
141.18
160.08
179.74
152.55
178.00
182.52
186.78
189.51
193.16
142.78
161.16
178.90
153.94
177.38
181.92
184.71
187.78
190.20
130.67
141.18
154.74
137.03
152.58
156.96
160.89
163.25
165.00
132.64
149.11
168.66
141.87
166.84
171.80
175.73
179.10
182.60
Manchester
Brockton
160.59
180.72
201.88
172.83
200.28
205.03
209.36
212.88
216.52
134.49
152.30
174.59
144.94
171.78
178.33
183.31
187.88
193.26
Rhode Island
New Hampshire
Lawrence
Boston
Vermont
Nashua
ProvidenceFall RiverWarwick
Burlington
122.33
138.19
154.91
130.84
153.12
157.44
161.07
163.14
164.41
145.51
162.73
187.66
154.73
185.13
191.76
197.86
202.68
207.94
158.61
171.11
183.91
166.10
184.19
186.02
186.24
188.21
191.01
124.09
140.78
158.85
134.14
157.48
162.12
165.86
167.79
169.94
Source: Fannie Mae and Freddie Mac. Data are based on a sample of single-family homes financed by conventional mortgages. City names represent metropolitan areas.
Repeat-Sales Home Price Index
Repeat-Sales Home Price Index
Percent Change, Second Quarter 2002 to Second Quarter 2003
Percent Change from Year Earlier
NBER-Dated Recession
15
United States
12
New England
9
6
Connecticut
United States
Maine
3
Massachusetts
0
New Hampshire
–3
–6
–9
Rhode Island
New England
Vermont
0
Q1
Q1
Q1
Q1
Q1
Q1
Q1 Q1
Q1
Q1 Q1 Q1 Q1 Q1
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
New England Economic Indicators
16
2
4
6
8
10
12
14
September 2003
Real Estate
Existing Home Sales (single-family, condominium, and cooperative, thousands of units, seasonally adjusted annual rate)
United States
New England
CT
ME
MA
NH
RI
VT
5,832
6,026
6,418
6,031
6,324
6,221
6,593
6,695
6,688
242.0
239.6
238.2
235.2
241.2
243.1
249.1
NA
NA
49.5
49.5
51.5
51.9
51.9
50.6
51.9
46.5
46.8
37.4
36.4
38.7
35.1
38.5
37.8
37.8
41.3
37.8
88.7
87.5
91.9
82.6
88.4
88.4
91.8
90.8
87.3
40.3
39.9
29.1
39.3
36.6
39.8
39.9
NA
NA
19.5
20.0
19.7
20.0
19.0
18.6
20.2
19.8
18.6
6.7
6.4
7.3
6.3
6.8
7.9
7.5
NA
NA
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
Source: National Association of Realtors.
Median Sales Price of Existing Homes (single-family, dollars, not seasonally adjusted)
Connecticut
United States
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
Hartford
138,375
146,350
157,800
146,800
157,800
161,400
161,000
161,200
168,900
159,375
163,025
176,125
164,700
174,500
185,900
183,500
182,400
198,500
Massachusetts
Maine
New HavenMeriden
150,600
167,475
191,425
164,400
191,000
199,200
202,000
211,400
213,500
Rhode Island
Portland
Boston
Springfield
Worcester
Providence
134,150
156,925
178,725
155,000
177,000
184,000
195,000
185,000
197,400
329,700
354,750
397,200
356,200
397,700
415,800
386,300
413,500
409,100
119,225
126,325
139,450
127,400
140,200
139,700
148,200
142,400
150,700
130,975
149,000
186,725
147,900
189,900
195,000
190,000
187,000
205,000
137,300
156,325
191,200
153,900
185,800
203,300
206,100
213,200
228,900
Source: National Association of Realtors. City names represent metropolitan areas.
Median Sales Price of Existing Homes
Existing Home Sales
Single Family, Condominium, and Cooperative
Percent Change, Second Quarter 2002 to Second Quarter 2003
Single Family Homes
Thousands of Dollars
450
United States
Second Quarter 2002
400
NA
New England
Second Quarter 2003
350
Connecticut
300
Maine
250
Massachusetts
200
NA
New Hampshire
150
Rhode Island
100
NA
50
6
e
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ro
vi
ce
or
in
nc
er
st
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gf
W
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to
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en
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ew
H
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av
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H
os
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tfo
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ta
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ni
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0
B
4
nd
2
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0
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-2
P
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-6
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-8
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-10
-M
Vermont
September 2003
17
http://www.bos.frb.org/economic/neei/neei.htm
Real Estate
Housing Permits Authorized (housing units, seasonally adjusted)
Total Permits
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
United States
New England
CT
ME
MA
NH
RI
VT
133,000
137,000
146,000
133,000
145,000
142,000
150,000
151,000
147,000
159,000
148,000
149,000
141,000
144,000
150,000
152,000
150,000
3,642
3,580
3,947
3,584
4,005
3,750
3,960
4,110
3,474
4,037
3,526
3,410
3,218
4,010
3,850
4,113
3,887
781
789
808
731
927
748
889
890
681
823
666
654
565
715
852
1,054
798
481
482
580
486
618
529
559
611
559
621
630
530
509
601
533
490
562
1,442
1,395
1,432
1,380
1,132
1,452
1,416
1,403
1,227
1,479
1,164
1,395
1,172
1,558
1,402
1,431
1,432
526
512
668
509
922
590
672
644
559
670
750
460
587
677
650
739
684
222
201
215
182
161
203
196
312
193
188
112
142
183
190
198
189
196
189
201
245
296
245
228
229
250
255
256
204
231
202
270
216
211
215
100,000
103,000
111,000
103,000
109,000
110,000
114,000
116,000
115,000
118,000
142,000
110,000
109,000
111,000
112,000
119,000
120,000
3,113
3,014
3,260
3,128
3,375
3,030
3,315
3,339
3,096
3,117
3,146
2,580
2,718
3,194
3,045
3,117
3,286
679
662
718
727
914
618
741
735
670
697
547
568
575
649
674
715
757
438
444
507
454
485
465
510
548
487
522
592
489
472
535
489
494
532
1,152
1,081
1,115
1,104
1,122
1,064
1,143
1,122
1,084
1,104
1,025
773
855
1,039
1,002
1,047
1,129
486
468
543
482
518
497
542
551
462
429
620
420
482
563
533
528
531
189
184
184
175
148
195
182
179
176
156
130
115
157
148
168
144
159
170
176
192
186
188
191
197
203
217
209
232
215
177
260
179
189
178
Single Unit Permits
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
Source: U.S. Census Bureau.
Total Housing Permits Authorized
Residential Construction Contracts
NBER-Dated Recession
Index 1990 = 100
NBER-Dated Recession
Index 1980 = 100
180
450
160
400
New England
United States
140
350
120
300
100
250
80
200
New England
60
40
United States
150
100
JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
New England Economic Indicators
18
JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN JAN
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
September 2003
Real Estate
Value of Construction Contracts (index 1980=100, not seasonally adjusted, except residential)
Total Contracts
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
United States
New England
CT
ME
MA
NH
RI
VT
319.4
334.6
338.4
353.4
362.7
372.7
325.4
347.1
291.2
265.5
297.1
279.4
326.6
369.2
368.2
413.6
389.5
403.1
352.4
370.2
365.7
397.6
358.1
359.6
422.6
339.6
245.1
219.2
234.0
283.7
318.7
395.8
484.8
412.1
358.5
297.7
333.3
312.5
373.7
332.9
317.9
419.5
196.0
273.5
177.9
159.1
285.0
257.0
315.8
530.5
309.8
319.5
311.4
342.9
387.5
447.8
334.4
313.1
317.8
276.6
196.3
276.9
214.3
361.8
509.8
535.8
502.0
368.3
443.9
381.9
365.0
375.1
413.7
338.9
356.4
409.3
428.0
196.7
210.5
242.7
242.6
262.2
402.9
442.5
471.9
536.4
450.2
515.3
476.1
497.0
501.8
641.3
630.2
379.2
407.3
284.7
462.9
450.3
565.7
510.1
598.7
534.6
333.9
338.6
408.4
349.3
213.5
479.7
328.9
371.3
294.8
431.1
312.0
284.6
268.1
270.8
256.5
317.0
234.1
238.5
271.0
374.9
340.7
308.9
334.6
246.6
485.0
332.4
163.4
183.8
121.4
261.9
475.2
449.5
645.6
451.5
328.2
345.8
391.8
343.1
395.3
387.4
408.2
421.1
395.5
422.4
446.5
392.3
381.5
411.2
397.1
421.8
441.6
291.3
310.4
356.6
302.2
367.0
379.1
399.6
389.6
363.2
312.0
324.3
307.1
310.3
354.9
364.8
386.7
429.4
292.7
295.4
353.5
285.1
377.2
364.8
340.4
408.2
324.8
371.3
315.2
248.7
279.1
337.3
338.7
460.7
344.2
351.6
350.8
441.3
358.7
460.0
427.4
414.1
427.1
413.2
514.8
520.9
403.6
458.8
488.6
431.6
462.9
406.6
267.4
296.4
313.3
275.4
323.5
373.8
386.9
363.5
324.8
221.1
260.1
264.4
246.3
292.2
364.4
308.1
485.3
407.8
414.7
540.7
438.9
520.8
476.1
691.6
517.2
544.4
453.3
530.7
437.7
608.5
539.6
411.5
602.8
490.2
287.1
311.4
327.3
276.6
323.2
295.2
330.5
276.5
549.5
262.3
289.0
585.1
265.2
518.9
263.5
270.1
360.9
191.3
244.6
305.5
295.1
313.2
315.2
288.3
353.4
281.6
301.4
261.0
274.6
264.9
270.7
381.1
345.7
311.9
526.0
444.5
419.2
401.7
393.4
338.9
326.0
563.0
352.1
286.7
243.9
295.0
328.3
304.2
501.6
648.7
442.9
473.2
301.0
342.0
183.8
304.0
333.4
287.5
454.3
141.3
311.8
133.9
163.7
345.0
203.3
345.7
601.5
331.5
316.4
304.9
281.1
247.7
457.0
293.6
263.1
255.9
202.8
53.8
171.9
155.0
346.3
588.7
581.3
394.0
216.9
626.9
539.2
449.0
528.8
459.4
304.0
294.2
598.5
518.1
219.3
290.7
337.3
308.6
274.8
558.1
732.1
578.3
594.4
649.6
630.9
643.6
572.7
454.6
717.7
1,100.6
387.0
727.5
280.0
923.4
367.1
385.4
764.2
621.5
526.0
340.7
510.3
457.2
592.3
123.8
736.2
480.2
458.6
90.0
747.3
521.4
251.0
281.8
150.1
366.0
452.6
130.4
351.8
328.1
685.1
290.8
106.7
148.4
297.2
1,168.3
801.3
97.5
326.1
120.2
401.0
946.1
593.3
1,104.7
582.1
Residential Contracts
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
Nonresidential Building Contracts
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
330.6
322.0
293.4
324.0
304.7
337.2
263.5
302.9
271.4
219.9
252.4
222.6
262.3
298.4
303.8
349.4
330.6
Table continued
September 2003
19
http://www.bos.frb.org/economic/neei/neei.htm
Real Estate and Merchandise Exports
Value of Construction Contracts, continued (index 1980=100, not seasonally adjusted)
United States
New England
CT
ME
MA
NH
RI
VT
417.0
287.7
318.2
373.7
394.0
240.6
353.5
219.9
290.9
125.2
132.5
155.3
177.6
219.0
180.2
312.5
265.0
231.4
300.1
272.6
554.2
381.2
165.4
375.3
344.8
95.1
95.1
147.4
78.4
150.6
103.2
95.2
415.7
55.1
264.3
249.1
270.8
552.3
232.1
113.2
200.1
150.2
176.6
58.4
360.4
209.9
346.2
346.1
425.0
505.1
399.2
489.1
307.5
330.2
321.6
499.4
205.4
425.4
177.8
473.2
123.7
87.5
177.7
118.3
188.9
170.6
233.7
277.6
759.1
274.5
321.4
220.0
204.2
520.5
314.5
175.6
82.8
100.1
67.5
147.5
332.2
705.1
253.0
232.7
520.3
387.0
196.7
455.4
196.7
183.6
405.2
194.8
380.5
137.5
317.0
188.5
211.5
278.2
63.8
81.2
151.1
203.9
239.7
272.4
251.8
332.7
319.8
445.6
122.0
53.5
54.6
126.7
117.5
73.3
168.2
237.6
224.5
723.4
471.3
Nonbuilding Contracts
2000 Annual
2001 Annual
2002 Annual
2001 July
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
2003 May
2003 June
2003 July
284.5
333.4
310.1
369.3
334.3
348.0
307.8
247.7
205.6
192.8
239.2
252.9
266.2
304.0
291.6
375.8
318.2
Source: Construction contracts figures are proprietary data from F.W. Dodge Division, McGraw-Hill Information Systems Company, and are reproduced here with permission. Monthly updates to
the indexes routinely incorporate up to three years of revised contract value estimates.
Total Merchandise Exports
Exports by State
Dollar Value of Merchandise Exports
Percent Change, Second Quarter 2002 to Second Quarter 2003
Index 1997 = 100
130
United States
New England
New England
120
Connecticut
Maine
110
Massachusetts
New Hampshire
United States
100
Rhode Island
Vermont
90
Q1
1999
Q1
1998
Q1
1997
Q1
2000
Q1
2002
Q1
2001
Q1
2003
-8
-6
-4
-2
0
2
4
6
8
10
12
Exports by Industry
Exports by Country of Destination
Dollar Value of Merchandise Exports
Percent Change, Second Quarter 2002 to Second Quarter 2003
Dollar Value of Merchandise Exports
Percent Change, Second Quarter 2002 to Second Quarter 2003
Computer &
Electronic Products
Canada
New England
United States
Transportation
Equipment
Japan
Machinery
United Kingdom
Chemicals
France
Miscellaneous
Manufacturing
Fabricated Metal
Products
Electrical Equipment,
Appliances, & Components
Germany
Paper
Korea
Plastics &
Rubber Products
Mexico
-20
14
New England
United States
Netherlands
Singapore
-10
New England Economic Indicators
0
10
20
30
-20
40
20
-10
0
10
20
30
40
50
60
70
80
September 2003
Merchandise Exports
Total Merchandise Exports (millions of dollars, not seasonally adjusted)
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
United States
New England
CT
ME
MA
NH
RI
VT
195,105
182,756
173,314
190,406
178,101
171,795
176,856
173,642
180,220
9,499
8,603
8,125
8,904
8,058
8,413
8,410
8,305
8,528
2,012
2,153
2,078
2,174
2,048
2,101
2,106
1,993
2,104
445
453
493
427
463
583
507
564
483
5,129
4,373
4,177
4,648
4,128
4,397
4,423
4,443
4,548
593
600
466
630
493
438
453
454
481
296
317
280
294
290
269
289
279
326
1,024
708
630
731
636
626
632
572
586
Source: Merchandise export data are prepared by the Massachusetts Institute for Social and Economic Research (MISER) using data compiled by the U.S. Census Bureau, Foreign Trade Division,
and are reproduced here with permission.
Merchandise Exports by Industry* (millions of dollars, not seasonally adjusted)
United States
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
Computer &
Electronic Transportation
Equipment
Machinery
Products
Chemicals
Miscellaneous
Manufacturing
Fabricated Electrical Equip.,
Metal
Appliances, &
Products
Components
Paper
Plastics &
Rubber
Products
49,059
41,336
36,462
41,852
36,568
36,350
36,911
35,180
35,726
32,045
32,558
32,724
36,049
35,554
31,399
32,639
31,308
34,109
22,461
20,378
18,736
21,415
19,699
18,866
18,716
17,989
19,003
20,065
19,759
20,126
20,546
20,705
20,374
20,845
22,024
22,794
6,113
6,445
6,665
6,519
6,783
6,554
6,888
6,939
7,191
5,728
5,175
5,047
5,402
5,137
5,118
5,140
5,012
5,294
6,869
6,231
5,712
6,356
5,894
5,745
5,768
5,475
5,738
3,995
3,624
3,527
3,641
3,580
3,581
3,550
3,529
3,641
4,429
4,127
4,042
4,308
4,204
4,097
4,025
3,994
4,261
4,029
3,115
2,740
3,253
2,638
2,839
2,854
2,888
2,840
1,021
1,181
1,184
1,189
1,183
1,225
1,125
1,015
1,027
1,076
963
785
1,011
826
822
781
792
809
620
608
777
638
773
789
960
898
1,066
432
482
467
518
479
463
495
495
573
314
296
324
307
297
330
341
322
272
341
316
297
319
315
300
298
289
295
268
245
257
249
260
269
254
264
263
175
180
185
188
190
205
178
175
185
New England
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
Merchandise Exports by Country of Destination* (millions of dollars, not seasonally adjusted)
United States
Canada
Japan
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
44,107
40,931
40,200
44,600
42,976
38,861
40,591
41,173
44,587
16,314
14,410
12,860
14,978
12,831
13,433
12,652
12,547
13,422
United Kingdom
10,395
10,199
8,313
11,570
8,628
8,021
8,047
8,717
8,679
France
Germany
Korea
Mexico
5,063
4,974
4,755
5,037
4,678
4,043
5,087
4,406
4,539
7,311
7,528
6,657
7,536
6,422
6,468
7,014
7,382
7,224
Netherlands
5,493
4,881
4,584
4,965
4,842
4,375
4,456
4,924
5,084
Singapore
4,454
4,423
4,055
4,225
4,123
4,041
3,910
4,060
3,804
6,975
5,549
5,649
5,101
5,917
5,776
5,829
6,050
5,877
27,930
25,377
24,383
25,260
24,905
24,791
25,202
22,702
23,887
561
591
520
674
480
504
596
591
721
398
291
366
282
304
411
436
473
522
280
284
330
244
389
341
302
302
337
290
240
319
203
290
321
352
325
294
346
275
291
262
284
308
310
333
330
New England
2000 Annual
2,395
797
740
597
2001 Annual
1,939
777
755
613
2002 Annual
1,734
663
615
563
2001 Quarter II
2,082
776
762
724
2002 Quarter II
1,878
604
640
600
2002 Quarter III
1,772
711
579
503
2002 Quarter IV
1,632
722
631
535
** The three countries listed for each state had the largest shares of that state’s merchandise exports in 1999.
2003 Quarter I
1,628
640
651
489
2003 Quarter II
1,663
661
549
528
*The industries and countries shown in these tables had the largest shares of total New England merchandise exports in 2002. Industries are defined by the North American Industry Classification
System (NAICS).
September 2003
21
http://www.bos.frb.org/economic/neei/neei.htm
Merchandise Exports
State Merchandise Exports by Industry* (millions of dollars, not seasonally adjusted)
Connecticut
Computer &
Transportation Electronic
Equipment
Products
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
792
997
1,025
1,021
991
1,097
983
814
854
Maine
Machinery
226
201
190
197
187
177
196
189
198
Computer &
Electronic
Products
Paper
83
87
134
77
124
158
133
158
148
93
89
96
87
97
113
87
97
105
251
225
167
242
169
167
171
182
188
New Hampshire
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
Massachusetts
Forestry &
Logging
Computer &
Electronic
Products
44
47
46
32
33
46
50
63
34
2,554
2,030
1,756
2,133
1,669
1,856
1,858
1,936
1,852
Rhode Island
Computer &
Electronic
Products
Machinery
Electrical Equip.,
Appliances, &
Components
250
221
142
244
165
124
130
137
147
102
117
96
124
94
93
103
93
98
30
51
25
50
30
23
22
24
25
Computer &
Electronic
Products
71
66
51
68
54
45
57
60
70
Waste &
Scrap
400
383
567
413
576
572
720
626
722
636
511
447
555
477
487
430
434
426
Vermont
Miscellaneous
Manufacturing
29
35
36
23
40
19
55
32
36
Machinery
Chemicals
41
41
35
39
36
37
35
33
38
Computer &
Electronic
Machinery
Products
846
509
466
533
440
479
481
409
425
Transportation
Equipment
27
28
26
25
25
25
33
33
25
26
30
23
23
43
14
14
17
22
State Merchandise Exports by Country of Destination* (millions of dollars, not seasonally adjusted)
Connecticut
Canada
2000 Annual
2001 Annual
2002 Annual
2001 Quarter II
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
2003 Quarter II
458
432
373
510
436
388
326
347
348
France
278
354
295
421
273
286
246
276
363
Maine
Germany
140
169
164
154
150
131
193
193
265
Canada
210
212
198
203
159
267
198
184
158
New Hampshire
Canada
United Kingdom
Germany
Singapore
9
26
62
19
60
79
53
53
57
Massachusetts
Malaysia
33
33
42
31
37
49
39
49
57
Canada
Japan
897
711
677
740
744
643
648
672
671
546
491
400
520
375
439
428
388
412
Rhode Island
Canada
2000 Annual
186
53
49
94
2001 Annual
148
91
36
88
2002 Annual
129
41
32
94
2001 Quarter II
159
68
40
95
2002 Quarter II
146
40
30
101
2002 Quarter III
116
37
41
88
2002 Quarter IV
133
38
28
94
2003 Quarter I
124
37
29
97
** The three countries listed for each state had the largest shares of that state’s merchandise exports in 1999.
2003 Quarter II
131
38
27
111
Singapore
11
15
20
11
24
20
10
23
28
United Kingdom
483
463
39
488
419
369
405
37
325
Vermont
Mexico
27
17
19
15
15
20
25
16
17
Canada
551
347
264
375
293
271
233
205
244
Korea
Taiwan
35
47
83
28
72
97
93
77
64
68
48
81
46
66
75
109
113
77
*The industries and countries shown for each state in these tables had the largest shares of that state's merchandise exports in 2002. Industries are defined by the North American Industry
Classification System (NAICS).
New England Economic Indicators
22
September 2003
Electricity Sales
Electricity Sales (millions of kilowatt-hours, not seasonally adjusted)
United States
New England
CT
ME
MA
NH
RI
VT
3,655
4,206
3,671
3,168
3,122
3,091
3,234
4,308
4,488
3,586
3,203
3,472
4,376
4,665
4,086
4,031
3,437
970
1,671
1,040
874
877
838
927
1,318
1,275
957
876
998
1,268
1,330
1,174
1,122
964
536
326
336
306
307
308
291
348
359
304
302
340
399
431
365
363
317
1,417
1,499
1,562
1,353
1,320
1,309
1,365
1,797
1,970
1,605
1,364
1,432
1,807
1,952
1,737
1,730
1,462
302
316
324
280
266
282
293
373
385
311
305
314
441
439
374
366
313
260
225
236
198
200
202
202
301
312
243
199
217
254
290
232
264
218
171
169
173
157
152
152
156
171
187
166
157
171
207
223
204
186
163
3,990
4,079
4,161
3,673
3,708
3,937
4,162
4,731
4,886
4,264
4,175
3,955
4,252
4,520
4,024
4,225
3,892
994
1,037
1,051
925
980
998
1,099
1,196
1,241
1,052
1,073
959
1,052
1,117
993
1,028
954
339
317
317
288
246
297
307
355
363
330
312
302
337
335
301
318
289
1,902
1,971
2,024
1,793
1,813
1,905
2,009
2,283
2,404
2,074
2,003
1,957
2,048
2,247
1,985
2,092
1,931
302
326
329
299
278
325
330
377
387
356
338
310
372
363
330
336
316
294
267
276
222
241
256
257
344
309
284
288
267
277
287
255
289
255
159
161
163
146
150
156
160
176
182
168
161
160
166
171
160
162
147
2,455
2,163
2,006
1,955
1,947
1,968
2,014
2,083
2,179
2,011
2,030
1,962
1,922
1,977
1,783
1,877
1,814
484
463
447
398
438
463
465
486
497
444
462
443
399
449
377
416
396
575
396
296
348
303
272
265
268
297
300
297
278
295
268
265
280
289
896
848
840
778
823
805
861
889
914
842
835
803
792
845
739
779
729
214
206
179
204
150
185
190
189
208
193
190
185
190
180
182
174
177
148
115
111
100
108
111
108
115
123
108
116
118
107
103
96
104
100
137
134
133
127
125
132
125
136
140
124
130
135
139
132
124
124
123
Residential Electricity Sales
2000 Annual
2001 Annual
2002 Annual
2001 April
2002 April
2002 May
2002 June
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
99,448
100,081
105,395
82,823
86,185
87,897
104,856
133,306
133,997
115,071
94,277
88,903
108,977
125,307
112,021
100,154
84,102
Commercial Electricity Sales
2000 Annual
2001 Annual
2002 Annual
2001 April
2002 April
2002 May
2002 June
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
86,495
90,586
93,306
81,230
84,922
92,599
100,494
109,537
108,279
100,225
95,466
85,425
87,655
93,712
84,886
86,482
83,470
Industrial Electricity Sales
2000 Annual
2001 Annual
2002 Annual
2001 April
2002 April
2002 May
2002 June
2002 July
2002 August
2002 September
2002 October
2002 November
2002 December
2003 January
2003 February
2003 March
2003 April
89,236
82,840
81,954
82,295
80,674
82,036
82,239
85,938
87,756
85,268
84,832
79,983
78,446
80,351
77,901
78,914
80,561
Source: U.S. Department of Energy.
September 2003
23
http://www.bos.frb.org/economic/neei/neei.htm
State Tax Collections
State Tax Collections (thousands of dollars, not seasonally adjusted)
Total Taxes
2000 Annual
2001 Annual
2002 Annual
2001 Quarter I
2002 Quarter I
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
United States
New England
CT
ME
MA
NH
RI
VT
137,980,691
138,670,402
133,379,340
137,649,419
129,526,047
149,127,418
126,905,687
127,958,209
130,638,190
8,425,805
8,689,736
8,092,090
8,706,522
8,177,301
9,346,900
7,044,295
7,799,864
NA
2,380,546
2,457,189
2,303,760
2,454,858
2,206,191
3,156,621
1,553,440
2,298,788
2,244,290
663,287
669,560
667,964
572,024
538,278
940,687
533,881
659,008
547,759
4,166,588
4,183,313
3,706,118
4,410,459
3,771,688
3,788,741
3,743,459
3,520,583
3,870,747
310,830
456,227
480,955
330,355
810,086
393,230
324,914
395,591
803,832
534,957
550,284
554,526
563,472
504,939
642,827
513,460
556,879
530,908
369,598
373,164
378,767
375,354
346,119
424,794
375,141
369,015
NA
3,947,450
4,116,818
3,411,308
4,016,653
3,280,024
4,004,612
3,036,284
3,324,313
NA
966,879
1,065,054
895,239
1,009,451
865,133
1,269,055
586,408
860,360
794,561
276,514
293,532
272,596
244,211
193,226
399,701
214,360
283,098
191,260
2,359,688
2,403,079
1,911,842
2,427,038
1,940,266
1,924,319
1,927,078
1,855,706
1,883,806
16,258
19,740
16,853
14,158
16,054
36,114
11,147
4,095
12,279
216,685
226,029
208,861
203,793
173,976
250,341
193,267
217,861
159,273
111,426
109,385
105,917
118,002
91,369
125,082
104,024
103,193
NA
2,135,229
2,152,024
2,145,343
2,134,515
2,090,267
2,498,248
1,820,928
2,171,928
NA
790,235
778,948
760,195
784,055
759,236
1,047,046
438,168
796,330
747,394
209,705
203,512
211,174
177,003
186,878
278,109
167,700
212,007
191,508
915,404
938,955
931,500
955,580
918,332
931,387
954,608
921,673
895,550
*
*
*
*
*
*
*
*
*
166,486
176,988
188,526
166,943
174,717
187,506
205,613
186,269
180,751
53,400
53,623
53,948
50,934
51,104
54,200
54,839
55,649
NA
8,480,198
7,030,804
6,808,750
6,973,994
6,300,171
9,919,427
6,240,074
4,775,327
6,699,783
584,808
450,672
434,602
717,859
551,697
513,505
392,710
280,497
NA
108,569
70,896
70,576
133,931
59,256
110,985
50,648
61,416
109,704
29,076
22,311
19,796
16,733
9,096
30,707
20,573
18,809
13,745
322,571
245,160
228,973
444,434
360,369
216,426
229,192
109,905
404,858
92,189
89,153
96,402
83,425
100,607
119,526
77,509
87,967
89,472
20,368
12,857
10,767
31,645
15,937
22,497
7,664
3,029
29,075
12,036
10,295
8,087
7,691
6,432
13,364
7,124
5,429
NA
7,541,766
7,853,464
8,051,983
7,558,222
7,636,394
8,416,094
8,114,211
8,041,234
7,603,401
404,579
393,684
416,116
369,809
372,315
491,358
374,710
426,080
NA
115,618
103,287
110,159
98,679
101,046
148,457
74,668
116,463
106,567
46,939
47,091
48,536
44,402
45,308
64,193
35,199
49,445
45,163
164,505
165,434
168,215
149,164
152,692
173,502
176,801
169,866
162,925
29,093
30,060
30,493
30,401
28,321
29,706
32,537
31,409
30,842
32,732
28,734
37,172
30,688
23,336
54,509
36,342
34,502
32,942
15,692
19,079
21,540
16,475
21,612
20,991
19,163
24,395
NA
201,284
212,596
269,844
190,698
200,321
274,178
304,885
299,992
NA
41,532
41,195
62,760
39,057
35,205
92,191
55,740
67,903
62,648
27,662
30,985
35,298
27,671
34,275
36,469
35,773
34,676
32,842
83,895
85,057
108,854
74,506
76,721
89,379
141,069
128,246
120,842
22,216
24,734
24,714
23,162
21,947
21,620
27,929
27,360
22,093
17,141
20,089
25,115
15,759
21,608
25,295
27,156
26,401
24,466
8,838
10,536
13,103
10,543
10,565
9,224
17,218
15,406
NA
Individual Income Taxes
2000 Annual
2001 Annual
2002 Annual
2001 Quarter I
2002 Quarter I
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
50,782,238
51,555,273
45,386,980
50,241,473
42,403,883
52,261,254
42,883,083
43,999,700
41,613,586
General Sales and Gross Receipts Taxes
2000 Annual
2001 Annual
2002 Annual
2001 Quarter I
2002 Quarter I
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
44,525,742
44,766,549
45,067,911
45,058,344
44,808,196
46,966,686
43,316,047
45,180,716
44,084,892
Corporation Net Income Taxes
2000 Annual
2001 Annual
2002 Annual
2001 Quarter I
2002 Quarter I
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
Motor Fuel Taxes
2000 Annual
2001 Annual
2002 Annual
2001 Quarter I
2002 Quarter I
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
Tobacco and Alcohol Taxes
2000 Annual
2001 Annual
2002 Annual
2001 Quarter I
2002 Quarter I
2002 Quarter II
2002 Quarter III
2002 Quarter IV
2003 Quarter I
3,085,389
3,124,863
3,457,364
3,065,997
2,974,899
3,381,205
3,689,864
3,783,486
3,611,670
* The state of New Hampshire does not levy a general sales tax.
Source: U.S. Census Bureau. Data refer to calendar, not fiscal, years.
New England Economic Indicators
24
September 2003
Indicators
Sources on the Internet
Many of the data series used to compile Indicators can be obtained from the web sites of the original data source.
Additional and related data series not published in Indicators may be available at these sites, and data can
often be obtained in advance of publication in Indicators. Key sites are listed below.
Employment, Unemployment, Hours, Earnings,
Consumer Price Index
U.S. Bureau of Labor Statistics
http://stats.bls.gov
Construction Contracts
F.W. Dodge
http://dodge.construction.com/Analytics
Housing Permits, State Tax Collections
U.S. Census Bureau
http://www.census.gov
Initial Claims for Unemployment Insurance
U.S. Department of Labor, Employment
and Training Administration
http://workforcesecurity.doleta.gov
Merchandise Exports
Massachusetts Institute for Social and
Economic Research
http://www.misertrade.org
Help Wanted, Consumer Confidence
The Conference Board, Inc.
http://www.conference-board.org
Repeat-Sales Home Prices
Fannie Mae and Freddie Mac
http://www.freddiemac.com
Massachusetts Consumer Confidence
Mass Insight/MassDevelopment Project
http://www.massinsight.com
Existing Home Sales, Median Sales Price of
Existing Homes
National Association of Realtors
http://www.realtor.org
Personal Income, Wage and Salary
Disbursements
U.S. Bureau of Economic Analysis
http://www.bea.doc.gov
Indicators Web Site
Federal Reserve Bank of Boston
http://www.bos.frb.org/economic/neei/neei.htm
Electricity Sales
U.S. Energy Information Administration
http://www.eia.doe.gov
September 2003
25
http://www.bos.frb.org/economic/neei/neei.htm
Previous Articles
PUBLISHED IN NEW ENGLAND ECONOMIC INDICATORS
“The Economic Performance of the New England States in 2002:
An Overview”
July 2003
“Comments on Changes to Regional Employment Data:
Benchmark Revision and NAICS Conversion”
May/June 2003
“The Fiscal Condition of the New England States: An Update”
January 2003
“Definitions and Sources of Indicators Data”
October 2001
“The Performance of Business Services in the
National and Regional Employment Recoveries”
March 1996
Indicators
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