Mississippi economy

Mississippi economic growth

Economic growth of the state of Mississippi is tracked by the GDP growth indicator. However, GDP is a lagging indicator since it reports what economic growth was in the previous quarter. MacroVar aims to predict what economic growth will be in six to twelve months. Consequently, MacroVar tracks the following leading economic indicators: Mississippi Leading economic index, Initial jobless claims, Building permits and Real Estate prices. Current economic growth conditions of the state of Mississippi are monitored using Mississippi coincident economic activity index.

Indicator Actual Previous M/M% Y/Y% Trend ZS5Y Trend Update
Leading Index Mississippi 1.54 1.02 0.509804 1.65517 1.0 1 2020-02-29
Coincident Economic Activity Index for Mississippi 117.62 117.55 0.000595491 0.122007 1.0 1 2021-04-01
Initial Jobless Claims Mississippi 2830 2766 0.0231381 -0.617723 -1.0 0.283333 2021-05-29
Build Permits Mississippi 747.324 813.72 -0.0815956 0.130572 1.0 0.683333 2021-04-01
Total Gross Domestic Product Mississippi 118122 115900 0.0191717 0.0668148 1.0 0 2020-10-01
Zillow Mississippi all Prices 138216 136888 0.00970136 0.0705373 1.0 1 2021-04-30
Unemployment Rate in Mississippi 6.2 6.2 0 -0.605096 -1.0 0.0166667 2021-04-01

Mississippi Unemployment

Mississippi unemployment is a very important economic indicator affecting the state’s economic condition. MacroVar monitors initial jobless claims which is reported every week and is an important indicator of current economic conditions. Mississippi unemployment is reported later in the month.

Indicator Actual Previous M/M% Y/Y% Trend ZS5Y Trend Update

Mississippi Real Estate

Construction activity is a very important economic indicator for the economy of Mississippi. MacroVar monitors the following indicators: Mississippi building permits, real estate prices, real estate rent and the house price index. Building permits is a leading economic indicator measuring the number of permits required to start construction. Hence, it predicts the construction activity in the state for the following year. When economic growth is strong and financial conditions are normal, developers are optimistic about future economic growth and they apply for new building permits to begin new construction projects and vice-versa.

Indicator Actual Previous M/M% Y/Y% Trend ZS5Y Trend Update
Build Permits Mississippi 747.324 813.72 -0.0815956 0.130572 1.0 0.683333 2021-04-01
Leading Index Mississippi 1.54 1.02 0.509804 1.65517 1.0 1 2020-02-29
All-Transactions House Price Index for Mississippi 291.27 287.62 1.27 10.79 UP 100 2021-01-13
Coincident Economic Activity Index for Mississippi 117.62 117.55 0.000595491 0.122007 1.0 1 2021-04-01
Zillow Mississippi all Prices 138216 136888 0.00970136 0.0705373 1.0 1 2021-04-30

Mississippi Cost of living

Mississippi cost of living is monitored using the following indicators: Real per capita personal income, Real trade-weighted value of the dollar, Mississippi Zillow rent levels, Regional price parities all items

Indicator Actual Previous M/M% Y/Y% Trend ZS5Y Trend Update
Real Per Capita Personal Income for Mississippi 42134 41051 2.64 0 UP 0 2021-01-13
Real Trade-Weighted Value of the dollar for Mississippi 96.5026 95.2544 0.0131039 -0.0516927 -1.0 0.05 2021-03-01
Regional Price Parities: All Items for Mississippi 84.4 85.6 -1.4 0 Down 0 2021-01-13

Mississippi Economic news

MacroVar monitors news and economic developments related to the Mississippi economy.

Economic Indicators Overview

  • Leading Index: The leading index for Mississippi state predicts the six-month growth rate of the state’s coincident index. The indicator monitors the following variables leading the economy: state-level housing permits (1 to 4 units), state initial unemployment insurance claims, delivery times for Institute for Supply Management (ISM) manufacturing survey, and the interest rate spread between the 10-year Treasury bond and the 3-month Treasury bill.
  • Coincident Index: The coincident economic activity index includes the following indicators: nonfarm payroll employment, the unemployment rate, average hours worked in manufacturing and wages and salaries. The trend for Mississippi state index is set to match the trend for GDP growth.
  • Initial Jobless claims: An initial claim is a claim filed by an unemployed individual after a separation from an employer. The claim requests a determination of basic eligibility for the Unemployment insurance program.
  • Building Permits: Mississippi building permits represents the total number of building permits for all structure types.
  • GDP: The total value of goods produced and services provided in Mississippi during one year.
  • Unemployment Rate: Mississippi unemployment rate is the proportion of the labor force that is not currently employed but could be.
  • Real Estate prices (Zillow): MacroVar monitors real estate prices across Mississippi using current prices determined by real estate activity tracked by Zillow.
  • House Price Index: Mississippi House price index summarizes real estate activity using estimated sales prices and appraisal data.
  • Real trade-weighted value of the dollar: This index calculates the inflation-adjusted value of the US dollar against the currencies of countries to which Mississippi exports. The real exchange rates are aggregated across countries for Mississippi using the annual average export share to the country.
  • Regional price parities: Regional price parities (RPPs) are regional price levels expressed as a percentage of the overall national price level for a given year. The price levels are determined by the average prices paid by consumers for the mix of goods and services consumed in the state of Mississippi. Taking the ratio of RPPs shows the difference in price levels across regions.

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