the region was $229 million for 2010, a decrease of 1.74 percent over 2009.
With the exception of Rhode Island, unemployment in New England states remained
below the national average. Rhode Island,
although above the average, posted a significant ( 1. 2 percent) drop in unemployment. The mid-year outlook varied widely
across sectors, according to the Federal
Reserve. The outlook was largely positive
in manufacturing and software, cautious
for retail and tourism, and mixed among
commercial real estate professionals. Conditions continued to improve during the
waning months of the year, with most retailers reporting year-over-year sales increases, and manufacturing activity expanding. However, while commercial real
estate markets were stable, residential real
estate continued to be weak.
The Regional Leaders in New England
reported combined revenue of $311.5 million, a drop of 2 percent from last year.
While unemployment in the Southeast
dropped in five of the six states in the region, it remained at or above the national
average in four states. Signs of slowing or
contracting economic activity were prevalent during the second half of the year, according to the Federal Reserve. Activity at
retail and services firms was flat to down,
and manufacturing activity also edged
down during the fall months. At year’s end,
indicators were generally either mixed or
The Regional Leaders in the Southeast
earned a total of $641 million in 2010, declining by about half a percent from 2009.
Unemployment in the states comprising
the Southwest increased slightly during
the year, remaining below the national average in Texas and New Mexico at 8. 3 percent and 8. 5 percent, respectively. Arizona
mirrored the national average, ending the
year at 9. 4 percent unemployment.
The Dallas Federal Reserve District
expanded at a modest pace throughout the
year. Activity in the energy sector strengthened, while transportation services and
staffing firms reported steady but solid demand. The region ended the year with
mixed reports from the manufacturing
sector. Commercial real estate conditions
were improving slightly at year’s end.
The Southwest’s top regional firms reported $331 million in revenue in 2010, up
nearly 1 percent over 2009 figures.
Unemployment in the three Western states
with Regional Leaders in them rose slightly or remained steady during the year. Economic activity in the Federal Reserve District picked up slightly from June through
mid-July, and firmed further from the fall
through to the end of December. Manufacturing activity grew, agricultural production remained solid, and demand grew for
providers of energy resources. However,
home sales and construction stayed sluggish, and conditions continued to be weak
in commercial real estate markets.
The Regional Leaders in the West reported revenue of $1.22 billion, for growth
of 1. 9 percent over last year. AT
Regional Leader revenue growth, year-to-year change
Region -0. 5
- 1. 5
- 2. 5