The long and the short of it: recent trends and cycles in the third district states

Most discussions of business cycles focus on the national economy. But regional cycles are also important, and they can vary significantly from one region to another. Analysis of regional cycles can help businesses plan investments, project sales, decide whether to enter new markets, or identify trend growth in current ones. A look at the economies of the Third District states--Pennsylvania, New Jersey, and Delaware--illustrates how trends and cycles can differ even among neighboring states. In this article, Ted Crone traces the historical patterns of the three states' economies but warns that noting such patterns is not a substitute for detailed current analysis.