The North Country Economic Index (NCEI) is a quarterly economic report to gauge the performance of the economy in the northern rural New Hampshire, which currently includes Coös County. The NCEI is released four times a year – in March for Winter (December, January and February), in June for Spring (March, April and May), in September for Summer (June, July and August), and in December for Autumn (September, October and November).
NCEI also tracks the economic performance of the State of New Hampshire for the purposes of comparison. Posting county and state indicators side by side makes it clear how the county’s economy fares in comparison to the state’s economy. This State Index is constructed using the same methodology and component indicators used in the construction of the County Index so that the two Indexes can be directly comparable.
The State’s economic recovery gained momentum and widespread in spring 2014. The State Index increased 15 consecutive quarters on a year-over-year basis. The pace of growth rose two straight quarters. All five component indicators remained up from the prior year. The industrial sector gained momentum; industrial electricity sales grew nine consecutive quarters and its pace of growth increased three straight quarters. The labor market stayed the course on recovery; the pace of increases in the number of employed residents accelerated. The tourism sector continued to be a force behind the recovery; both average Saturday vehicle traffic counts and spending at lodgings were higher than their spring 2013 levels. The state’s housing market showed signs of cooling off; the pace of increases in median home prices slowed for the first time since Fall 2012.