Journal Article

Second District update: a moderate recovery is in progress

Abstract: After a prolonged recession, the Second District's economy began to expand in the second half of 1993. Several indicatorsthe growing volume of exports from the region, strong earnings on Wall Street, and job growth at newly formed businessessuggest that the recovery can be sustained in the quarters immediately ahead. In a supplemental analysis, the authors find that new small firms are the primary source of job generation in New York State, although they note that such firms also carry a higher risk of failure.

Keywords: Federal Reserve District, 2nd;

Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Quarterly Review

Publication Date: 1994

Volume: 19

Issue: Spr

Pages: 45-53