Summary
In January 2012 the Tech Pulse Index grew at an annualized rate of 0.3%, compared to its 16.9% historical average. The Tech Pulse Index grew 1.9% over the past 12 months.
Tech Pulse Index and Underlying Indicators.
| 12 month growth rate |
Monthly growth rates, annualized | ||||
| Indicator | latest | Nov-11 | Dec-11 | Jan-12 | |
| Tech Pulse | 1.9% | -2.9% | -1.7% | 0.3% | |
| Industrial Production | 0.8% | -3.0% | 7.0% | ||
| Shipments | -1.0% | -30.9% | -7.3% | ||
| Employment | 0.8% | -0.1% | 0.2% | -0.6% | |
| PCE | 12.0% | 3.2% | -26.4% | ||
| PCE deflator | -7.5% | 10.5% | -6.6% | ||
| 4 quarter growth rate |
Quarterly growth rates, annualized | ||||
| latest | 2011Q3 | 2011Q4 | 2012Q1 | ||
| Private fixed investment (PFI) | 5.6% | 3.0% | 10.2% | ||
| PFI deflator | -2.1% | -1.9% | -1.9% | ||
Announcements
- In addition to our RSS-Feed you can now get updates on the Tech Pulse index from the San Francisco Federal Reserve's Twitter page. If you are interested, please see our E-kiosk. More information on these features: Twitter, RSS-feed.
- The econometric model used to construct the Tech Pulse index is re-estimated every month. Consequently, every month the whole historical time-series of the index is revised.
- The econometric specification of the model underlying the index as well as the source data have changed substantially compared to the versions of the index released before August 2008. Therefore, the current version of the Tech Pulse index is not directly comparable to previous versions of the index published before December 2008.
Methodology/References
- Bart Hobijn. 2009. "The Tech Pulse Index: Recent Trends in Tech-Sector Activity." FRBSF Economic Letter 2009-03.
- Bart Hobijn, Kevin J. Stiroh and Alexis Antoniades. 2003. "Taking the Pulse of the Tech Sector: A Coincident Index of High-Tech Activity." Current Issues in Economics and Finance, 9 (10).
- Bart Hobijn, Tech Pulse Index: Sources and Methodology.
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