The nation's economic recovery continued in the first quarter of 1994, according to a statewide economic indicator analysis by Kemper Securities Inc.
The analysis showed the predominance of economically strong states west of the Mississippi.
"Seven of the strongest 10 states are from the Rocky Mountain region," said Brad Langs, a tax-exempt, fixed-income research analyst at Kemper. "That's kind of the hot spot."
Meanwhile, some East Coast states and California remained weak. The District of Columbia fared the worst in the first quarter due to federal layoffs, Langs said. He said some East Coast states were still trying to recover from massive white-collar layoffs in the securities and insurance industries.
Ranked highest, in order of economic strength, were: Arizona, Utah, Idaho, New Hampshire, Nevada, Oregon, New Mexico, North Carolina, Colorado, and Massachusetts.
Ranked lowest, in order of economic weakness, were: the District of Columbia, Hawaii, Rhode Island, Maryland, North Dakota, New York, Alabama, Iowa, California, and Oklahoma.
Kemper measures the performance of all 50 states and the District of Columbia in terms of employment growth, home sales, mortgage delinquencies, mortgage foreclosures, and unemployment rates. The state rankings for the first quarter of the year are based on the percentage change from the first quarter of 1993.
