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Economic prospects looking good in 47 states

April 3, 2012: 4:04 PM ET

Here's more good news for the recovery: 47 states are predicted to see their economies strengthen over the next six months, according to a report issued by the Philadelphia Fed Tuesday.

Among them, West Virginia has the strongest prospects, likely due to a boost from natural gas drilling in the Marcellus ShaleThe state also wasn't hit hard by the housing boom and bust, and has had far fewer government layoffs than other states.

The report analyzes several key economic indicators, including jobs added each month, wages adjusted for inflation, and applications for housing permits and unemployment benefits.

Only three states -- New Mexico, Louisiana and Rhode Island -- are expected to see their economies slow.

A separate Philly Fed indicator, called the coincident index, shows all 50 states have seen broad-based gains in their job markets in the three months ending in February.

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