New Haven Economic Performance Index

This model depicts the Economic Performance of the broader New Haven Region and includes a 3-month forecast based on an ARIMA model of the time series. The data begins in January 2010 and automatically updates to the current month. The five constituent series are rebased to 100 in January 2010 and then combined into an equally-weighted Index. A decrease in unemployment is considered a positive/welcome outcome. Accordingly, the Unemployment Series is inverted prior to rebasing to harmonize with the direction/trends of the other constituent series.

 

The Index is comprised of the following five equally-weighted economic performance metrics; all data is from the Federal Reserve Bank of St. Louis (FRED):

  • New Private Housing Units Authorized by Building Permits for Connecticut

  • Average Weekly Hours of All Employees: Total Private in New Haven, CT

  • Average Weekly Earnings of All Employees: Total Private in New Haven, CT

  • All Employees: Education and Health Services in New Haven, CT

  • Unemployment Rate in New Haven, CT

 

The model was developed by Esin Cakan and A.E. Rodriguez; this shiny app is a John Kuchachik ('18) production.

fred.webp

The Federal Reserve of Economic Data offers a wealth of economic data and information to promote economic education and enhance economic research. The widely used database FRED is updated regularly and allows 24/7 access to regional and national financial and economic data.
Below is data from various industries about the economic performance of the New Haven area, with live feeds from the most recent available data. Please click the FRED icon below for the complete data set of New Haven.

Manufacturing

Employment

Resident Population

Retail Trade: Food and Beverage Stores

Median Household Income

Average Hourly Earnings