- Seasonal headwinds kept share of states with increasing activity constant at 80%.
- State output increased in 40 states and remained unchanged in 10. In addition, the pace of expansion improved in 16 states, slowed in 21 and was unchanged in 13.
- Activity downshifted in North and South Carolina, and Georgia, as gains in construction and housing failed to offset weaker employment growth. Global uncertainty and weaker demand from abroad also weighed on exports from these states.
- Positive trends in the residential and commercial real estate will continue to drive growth across the U.S. in the first half of the year.
- Activity on the West Coast and in resource rich areas will benefit from a remarkable recovery in housing, construction and export activity, and in turn outpace much of the country in 1H14.
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