Appearing in this issue of Benchmarks is a new current index and a new leading index for the state of Massachusetts. The current index is composed of four state-level economic indicators that move concurrently with the commonwealth's economy: establishment employment, the unemployment rate, withholding taxes, and sales taxes. The index is normalized at 100 in July 1987. Its average trend growth over 1978–96 is set to equal the trend growth of real gross state product. The current index indicates whether the economy is expanding or contracting and at what rate it is doing so. It provides a more comprehensive and reliable indication than does any single component, and a more frequent and timely measure than does gross state product or personal income.
Clayton-Matthews, Alan, "Endnotes: New Current and Leading Indexes for Massachusetts" (1998). Public Policy and Public Affairs Faculty Publication Series. 18.
University of Massachusetts