The States that backed Republican President Trump in Y 2016 have enjoyed faster growth last year than states that supported Democrat Hillary Clinton, a Yelp index shows.
Five of the 7 fastest-growing states in the US during Y 2019 went Red in the last Presidential election, according to a trend tracked by Yelp
An index that the online review site uses to track growth showed that the gap that Republican-leaning presidential states enjoy over Democratic states widened to 2.8 pts from 1.3 pts in Y 2018.
“Of the 7 best-growing states; North Dakota, South Dakota, Wyoming, Louisiana, Alaska, Hawaii and Maine only the latter w voted for Hillary Clinton in 2016.”
“Moreover, the seven slowest-growing states and districts by Yelp’s measure; Oregon, California, Illinois, Massachusetts, New Jersey, Connecticut, and Delaware all voted Democrat.”
Yelp does not measure GDP, but uses information it gathers to gauge the strength of local economies through business survival and consumer interest.
Yelp said it considers its measure to provide “a timely and accurate measure of a huge swath of the economy that is often missed by many major indicators.”
Yelp said found that for all of Y 2019, growth dipped 1.3% from the prior year.
“The slowdown in overall economic growth in 2019 reflected business profits declining, which contributed to a fall in business investments. Uncertainty around trade policy also hindered local economic growth in 2019,” Carl Bialik, Yelp’s data science editor, said in a statement.
Meanwhile, Mr. Bialik said the wider the margin by which President Trump won, the more economic growth that state tended to see. “The pattern was clear and surprising,” he said.
Friday, the major US stock market indexes finished at: DJIA -170.36 at 28989.64, NAS Comp -87.57 at 9314.93, S&P 500 -30.07 at 3295.4
Volume: Trade on the NYSE came in at 871-M/shares exchanged
- NAS Comp +3.8% YTD
- S&P 500 +2.0% YTD
- DJIA +1.6% YTD
- Russell 2000 -0.4% YTD
HeffX-LTN’s overall technical outlook for the major US stock indexes is Bullish to Very Bullish at the week ended 24 January 2020.
Looking ahead, the New Home Sales report for December will released Monday.
Have a terrific weekend