‘Delaware Economic Index’ Designed to Assist Delaware Consumers & Businesses in Making Financial Decisions
Dover, DE — State Treasurer Chip Flowers and the Delaware State Treasury, under its newly created Office of Economic Policy, today released the initial “Delaware Economic Index,” an easy-to-use summary of key state economic data. The index consists of figures and observations on unemployment, housing, consumer confidence, interest rates, state spending and private sector business action in Delaware. The data was gathered from a variety of federal, state and private sources. The “Delaware Economic Index” also implements a color-coded financial early warning system that characterizes the state economic climate over the past 30 days as viewed by the Delaware State Treasury. The Delaware State Treasury expects to release the index every 60 days.
“Pursuant to our new mission of restoring economic prosperity to the First State, the Delaware State Treasury is proud to provide key economic data to assist the People of the State of Delaware in assessing our economic climate. The index describes Delaware’s economic climate as ‘fair,’ for the past 30 days,” State Treasurer Chip Flowers said, “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.”
“The ‘Delaware Economic Index’ will help residents and businesses by offering instant access to key economic data from their State Treasury that will assist them in managing their finances and spending. We hope that the index will serve as a unique resource (outside of the Delaware Economic and Financial Advisory Council) for state officials to evaluate key economic factors and propose innovative policies that will help us meet our financial challenges. This is the first of many new exciting initiatives that the Delaware State Treasury will offer in the coming weeks and months to further our mission of restoring economic prosperity to our state,” Flowers said.
The Delaware State Treasury’s Office of Economic Policy was established in January, at no cost to taxpayers, through a fellowship program created between State Treasurer Flowers and the United Way of Delaware.
About the Delaware State Treasury
The mission of the Delaware State Treasury, the cornerstone of the state’s financial system, is to restore economic prosperity to the First State by providing critical financial services for the People of the State of Delaware. Led by Delaware State Treasurer Chip Flowers, Jr., Esq., the Delaware State Treasury works with public, private and nonprofit organizations to present financial clarity to all Delawareans through its four divisions – Executive Office of the State Treasurer, Office of Finance and Treasury Services, Office of Disbursements and Reconciliations and the Office of Economic Policy. For more information on the Delaware State Treasury or for a full version of the Delaware Economic Index, you can visit www.treasurer.delaware.gov, send an email to statetreasurer@state.de.us, or call 302-672-6700.
