RBC Capital Markets State Economic Heat Map – Q1, 2014.

In RBC Capital Markets’ heat map for states, analyst Chris Mauro noted that recent statistics point to a slowdown in economic development in many states. “The first quarter of 2014 continued the trend of softer economic data with only five states moving to a higher tier in our Heat Map and seven states moving to a lower one,” Mauro wrote. However, this year’s there’s been a shift. This time the weakness throughout the quarter came from a mix of states in the Midwest and the South (which typically post stronger economic growth numbers), while most of the improvement came from states in the Northeast. Part of the reason is likely because of lower crop prices, which severely affected on farm income in the Plains states. The plunge in farm income knocked North Dakota from the RBC’s top tier, for example. Housing prices in some areas continued to rebound as eight states posted a larger than 10 percent gain in the first quarter compared to the first quarter of 2013. Nevada and California led the charge, each with gains of 19 percent.

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