The Louisiana economy shrank slightly in February compared to the month before, becoming the last state to show signs of contraction. According to the report by the Federal Reserve Bank of Philadelphia, the index of Louisiana economic activity was down 0.4% from the previous month, the same rate of shrinkage seen by the U.S. economy. The Philadelphia Fed bases the index on payrolls, unemployment, manufacturing hours and wage and salary disbursements. According to the Wall Street Journal, this is the first time since at least 1979 that every state has seen contraction.
La. economy contracts in February
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