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Regional Economy
Our economists analyze local economic growth, labor markets, real estate, and public finance issues, contributing to discussions of regional and national economic policy.
 
Regional Indexes of Coincident Economic Indicators
Our Indexes of Coincident Economic Indicators (CEI) for October show continued modest growth in activity in New York City, a leveling in activity in New York State, and continued decline in activity in New Jersey. Coincident Economic Indicators
Recent Articles
Current IssuesEmployment in the New York - New Jersey Region: 2008 Review and Outlook
The 2007 slowing in job growth in the New York–New Jersey region continued through August 2008.
By Jason Bram, James Orr, and Rae Rosen, Current Issues in Economics and Finance Second District Highlights (14) 7, October 2008
Staff ReportsHousing Busts and Household Mobility
The authors used two decades of American Housing Survey data from 1985 to 2005, estimated the influence of negative home equity and rising mortgage interest rates on household mobility.
By Fernando Ferreira, Joseph Gyourko, and Joseph Tracy, Staff Reports 350, October 2008
Staff ReportsHave Amenities Become Relatively More Important Than Firm Productivity Advantages in Metropolitan Areas?
The authors analyze patterns of compensating differentials to determine whether a region’s bundle of site characteristics has a greater net effect on household location decisions relative to firm location decisions in U.S. metropolitan areas over time.
By Richard Deitz and Jaison R. Abel, Staff Reports 344, September 2008
Staff ReportsHuman Capital and Economic Activity in Urban America
This paper examines the relationship between human capital and economic activity in U.S. metropolitan areas, extending the existing literature in two important ways.
By Jaison R. Abel and Todd M. Gabe, Staff Reports 332, July 2008
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Current Economic Indicators

Empire State Manufacturing SurveyEmpire State Manufacturing Survey
The survey indicates that conditions for New York manufacturers continued to deteriorate in November. The general business conditions index slipped 0.8 point, to -25.4—a record low in this survey’s seven-year history.
November 17, 2008

The Beige BookBeige Book OFFSITE
The Second District's economy has weakened since the last report. Manufacturers report that business activity declined moderately in September and early October, while non-manufacturing firms report more widespread softening in activity and anticipate cutbacks in employment levels.
October 15, 2008

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