Del. economy ‘fair’ says treasurer’s office

The Delaware State Treasury, under its newly created Office of Economic Policy, today released the initial “Delaware Economic Index.”

According to the treasurer’s office, the index is an easy-to-use summary of key state economic data, and includes figures and observations on unemployment, housing, consumer confidence, interest rates, and more.

So, how is Delaware doing?

“The index describes Delaware’s economic climate as ‘fair,’ for the past 30 days,” said State Treasurer Chip Flowers, “since unemployment remains higher than normal levels (8.5 percent statewide) and certain key economic indicators remain relatively sluggish.

“However, Delaware has some positive economic news, as inflation remains in check and the Federal Reserve Bank of Philadelphia’s ‘Beige Book’ is forecasting moderate regional growth — which should have a positive impact on our state.”

Officials say the index, scheduled to be released every 60 days, is designed to assist Delaware consumers and businesses in making financial decisions.