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| About the Scorelogix® Local Economic Health Index |
Every month, Scorelogix® produces the Scorelogix Local Economic Health Index, a snapshot of the nation’s economic activity and health. Scorelogix® Local Economic Health Index is a new, comprehensive index that measures economic activity, prosperity and opportunities available to individuals in their specific zip codes, cities, counties, states and other regional levels.
Launched in May 2007 and published monthly, Scorelogix ’s Local Economic Health Index has been developed by examining and modeling decades of economic data, consumer data, employment and unemployment data, direct and indirect economic indicators, complex economic cycles, latest economic trends and business activities that impact a location’s economic health. |
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| Download FREE EHI Reports Here |
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| Why is it important to know Local Economic Health Index? |
Simply because: A location’s economic index is the key determinant of the financial health, living standards, purchasing power, spending behavior, buying preferences and repayment potential of the individuals in that location.
The economic prosperity of a region depends upon several factors. One of the critical factors is the employment opportunity in the region. The employment opportunity in turn depends upon the educational attainment of the population, availability of training and certification programs, incentives provided by the local jurisdiction to businesses, availability of a good transportation and communication infrastructure, type and size of businesses and industries, etc. The economic prosperity is typically reflected by increases in consumer spending, increase in local jobs, increase in retail sales, increase in sales of non-durables, increase in the discretionary income, increases in the number and quality of entertainment sources, etc – all of which are considered in the Scorelogix’s Local Economic Health Index model.
Fact is, local economic conditions change constantly! Businesses that were once thriving June suddenly face a decrease in demands for their goods. The loss in demand for their goods results in organizations finding ways to reduce their costs either by becoming more productive through technological means or by reducing costs through downsizing/layoffs. The impacted people in turn start exhibiting economic hardship behavior which is reflected in increases in the foreclosure rates, increases in personal bankruptcies, increases in delinquencies, etc – and all these factors are used in the Local Economic Health Index. |
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| Is Local Economic Health Index available for every zip code? |
| Yes! For every zip code in the nation, Scorelogix generates a time varying Local Economic Health Index that captures the local economic conditions and opportunities by tracking data and updating its databases on a daily basis. This index quantifies the economic activity taking place at that zip code every single month; therefore Scorelogix’s Local Economic Health Index is a leading indicator of the economic conditions for each zip code area. |
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