Leading, Slipping, Gaining, Lagging Analysis:
Assessing Manufacturing Earnings Growth
Across Alabama Counties
Real* Manufacturing
Earnings Growth
County vs Statewide Average: 2010-2022 and 2022
Real* Manufacturing
Earnings Growth
Alabama:
2010-2022 = 4.02%
2022 = 11.12%
Borrowing from an approach that sometimes appears in the finance sections of the popular press, LSGL analysis is a handy and versatile way to compare, portray and classify the patterns of real manufacturing earnings growth across all of Alabama's 67 counties. In finance, this technique is used for comparing and assessing the market performance of individual securities or across industry sectors. For example, the performance of the 30 stocks contained within Dow are compared with one another over the past week in contrast to their performance over the past month using the Dow's respective averages as the points of reference.
Here in this Alabama Regional Economic Analysis Project report, we adopt this approach to gauge and compare the real manufacturing earnings growth of Alabama's 67 counties over the latest available year (2022) against the backdrop of their growth over the long term period (2010-2022). In so doing we classify their growth and performance into 4 broad categories: Leading, Slipping, Gaining and Lagging.
Real* Manufacturing
Earnings Growth
County vs Statewide Average: 2010-2022 and 2022
Real* Manufacturing
Earnings Growth
Alabama:
2010-2022 = 4.02%
2022 = 11.12%
This figure displays the 67 counties of Alabama as dots on a scattergram, with the vertical axis representing the average annual real manufacturing earnings growth rate over the long-term period (2010-2022), and the horizontal axis representing the real manufacturing earnings growth rate for the near-term (2022).
This figure sets apart those counties whose long-term real manufacturing earnings growth exceeded the statewide average of 4.02%, by portraying them in the top two quadrants demarcated at 4.02% on the vertical axis. County whose long-term average annual real manufacturing earnings growth rate trailed the statewide average (4.02%) are distributed in the bottom two quadrants. In all, 28 counties surpassed the statewide average over 2010-2022, while 36 counties fell below.
Similarly, the two quadrants on the right of this figure present the positions of the 23 counties whose most recent (2022) real manufacturing earnings growth rate exceeded the statewide average (11.12%). The two quadrants on the left feature those 41 counties whose real manufacturing earnings growth over 2022 trailed the statewide average.
Accordingly, each quadrant portrays the performance of all 67 counties corresponding with their long-term (2010-2022) and near-term (2022) performance relative to their respective statewide averages of 4.02% over 2010-2022 and 11.12% over 2022:
Leading counties () (top-right quadrant)...are counties whose average annual real manufacturing earnings growth rate surpassed the statewide average both long-term (4.02%) and near-term (11.12%).
Slipping counties () (top-left quadrant)...are counties whose long-term average annual real manufacturing earnings growth rate exceeded the statewide average (4.02%), but whose near-term growth has "slipped" by falling below the Alabama average (11.12%).
Gaining counties () (bottom-right quadrant)...are counties whose long-term average annual real manufacturing earnings growth rate fell below the statewide average (4.02%), but whose near-term growth has "gained" by registering above the average (11.12%) statewide.
Lagging counties () (bottom-left quadrant)...are counties whose average annual real manufacturing earnings growth rate fell under the statewide average both long-term (4.02%) and near-term (11.12%).
   
 
Summary of Alabama's 67 County Totals
 
Short Term Average
 
 
Below
(11.12%)
Above
(11.12%)
 
Long
Term
Average
Above
(4.02%)
15
13
28
Below
(4.02%)
26
10
36
 
41
23
64
 
   
Leading Counties
2022 vs. 2010-2022 Averages
Leading Counties
white dot
Alabama:
2010-2022 = 4.02%
2022 = 11.12%
Turning attention to the top-right quadrant from the discussion above, this figure features the distribution of the Alabama counties classified as Leading. These counties surpassed Alabama's average annual real manufacturing earnings growth both long-term (2010-2022 = 4.02%) as well as near-term (2022 = 11.12%). Each is identified by its corresponding ranking based on it's average annual real manufacturing earnings growth rate over 2010-2022.
Of Alabama's 67 counties, 13 (19%) are classified within the Leading () category. Those counties ranked by their long-term average include:
Slipping Counties
2022 vs. 2010-2022 Averages
Slipping Counties
Alabama:
2010-2022 = 4.02%
2022 = 11.12%
This figure depicts the distribution of the 15 Alabama counties classified as Slipping (top-left quadrant), in that their long-term average annual real manufacturing earnings growth rate outpaced the average statewide (2010-2022 = 4.02%), while they trailed the statewide average near-term (2022 = 11.12%). Again, each county is identified by it's corresponding ranking based on its average annual real manufacturing earnings growth rate over 2010-2022.
Observe that 15 (22%) of Alabama's 67 counties are classified as Slipping (). Those counties ranked by their long-term average include:
Gaining Counties
2022 vs. 2010-2022 Averages
Gaining Counties
white dot
Alabama:
2010-2022 = 4.02%
2022 = 11.12%
This figure shows the distribution of the 10 Alabama counties classified as Gaining (bottom-right quadrant), in that their long-term average annual real manufacturing earnings growth rate posted below the average statewide (2010-2022 = 4.02%), while they outpaced Alabama's average near-term (2022 = 11.12%). Again, each county is identified by its corresponding ranking based on its average annual real manufacturing earnings growth rate over 2010-2022.
Of Alabama's 67 counties, only 15% (10) are featured as Gaining (). Those counties ranked by their long-term average include:
Lagging Counties
2022 vs. 2010-2022 Averages
Lagging Counties
white dot
Alabama:
2010-2022 = 4.02%
2022 = 11.12%
This figure depicts the distributions of the 26 Alabama counties classified as Lagging (bottom-left quadrant). These counties trailed the statewide average annual real manufacturing earnings growth both long-term (2010-2022 = 4.02%) as well as near-term (2022 = 11.12%). Again, each county is identified by its corresponding ranking based on it's average annual real manufacturing earnings growth rate over 2010-2022.
39% of Alabama's counties, 26 of 67, are characterized here as Lagging (). Those counties ranked by their long-term average include:
   
 
Alabama
Real* Manufacturing Earnings Growth
County vs. Statewide Average
 
2010-2022
 
2022
 
 
Leading Counties
 
1
10.75
 
6
20.01
178,251
 
21
4.97
 
13
16.33
193,734
 
5
7.35
 
9
18.15
517,538
 
6
7.27
 
5
20.62
577,986
 
9
6.80
 
11
18.13
335,859
 
20
5.08
 
12
18.05
47,468
 
11
6.67
 
7
19.76
385,456
 
12
6.65
 
3
22.38
303,287
 
14
6.26
 
18
12.50
2,257,079
 
22
4.93
 
21
11.84
1,410,515
 
7
7.22
 
4
21.27
304,280
 
26
4.57
 
17
13.61
513,551
 
2
9.06
 
14
16.25
290,909
Slipping Counties
 
3
8.88
 
44
7.04
44,582
 
8
6.81
 
53
3.51
91,041
 
13
6.49
 
60
-1.65
123,224
 
23
4.77
 
25
10.71
178,897
 
10
6.75
 
40
7.41
133,604
 
18
5.43
 
42
7.15
31,617
 
28
4.04
 
43
7.12
53,680
 
24
4.74
 
61
-1.71
60,543
 
17
5.79
 
50
4.85
84,671
 
27
4.49
 
26
10.68
551,684
 
16
6.13
 
27
10.60
904,720
 
19
5.18
 
37
8.19
49,604
 
4
8.81
 
30
10.12
287,416
 
25
4.61
 
39
7.87
1,553,748
 
15
6.14
 
24
10.94
173,308
Gaining Counties
 
34
3.54
 
23
11.66
132,935
 
35
3.53
 
10
18.14
324,237
 
36
3.51
 
15
15.48
92,478
 
29
3.75
 
8
18.81
29,429
 
38
3.21
 
1
32.59
41,712
 
59
0.55
 
22
11.71
271,863
 
58
1.41
 
20
12.08
38,268
 
54
2.16
 
19
12.08
288,343
 
37
3.28
 
16
14.24
2,469,696
 
45
2.87
 
2
31.51
86,620
Lagging Counties
 
60
0.46
 
36
8.34
136,195
 
46
2.85
 
54
3.49
504,729
 
47
2.84
 
57
2.73
55,997
 
49
2.69
 
64
-5.09
110,059
 
62
0.18
 
59
1.93
408,937
 
57
1.82
 
35
8.40
200,361
 
31
3.74
 
47
6.81
469,957
 
51
2.30
 
33
8.85
186,390
 
52
2.30
 
51
4.65
148,464
 
40
3.15
 
63
-4.73
28,740
 
48
2.72
 
41
7.29
37,262
 
30
3.74
 
56
3.24
340,777
 
55
1.90
 
31
10.05
177,360
 
64
-5.58
 
29
10.30
12,952
 
41
3.15
 
38
8.11
2,613,968
 
50
2.64
 
34
8.60
116,319
 
63
-0.50
 
48
6.46
102,639
 
39
3.19
 
46
6.95
1,076,723
 
44
2.99
 
62
-4.55
20,508
 
32
3.59
 
55
3.39
60,749
 
43
3.02
 
52
3.84
214,762
 
61
0.41
 
58
2.58
21,848
 
33
3.57
 
45
7.02
844,435
 
56
1.89
 
28
10.37
141,832
 
53
2.28
 
49
6.03
150,619
 
42
3.12
 
32
9.29
77,823
Undefined/Suppressed Counties
 
U
U
 
S
S
S
 
U
U
 
S
S
195,360
 
U
U
 
S
S
S
 
 
 
 
 
 
 
 
 
4.02
 
11.12
23,944,911
 
 
 
 
 
 
 
 
 
3.42
 
7.61
1,335,947,000
November 2023
REAP_PI_CA1600N_610500_LSGL
 
   
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