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;
File(s): File format is application/pdf http://www.newyorkfed.org/research/quarterly_review/1994v19/v19n1article6.pdf
Provider: Federal Reserve Bank of New York
Part of Series: Quarterly Review
Publication Date: 1994