Is it a coincident?

From Calcuated Risk, 11/29/2011.    The coincident indexes combine four state-level indicators to summarize current economic conditions in a single statistic.

The four state-level variables in each coincident index are

• nonfarm payroll employment,
• average hours worked in manufacturing,
• the unemployment rate, and wage and
• salary disbursements deflated by the consumer price index (U.S. city average).

The trend for each state’s index is set to the trend of its gross domestic product (GDP), so long-term growth in the state’s index matches long-term growth in its GDP.