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Federal Reserve Bank of New York
Current Issues in Economics and Finance
Is the worst over? Economic indexes and the course of the recession in New York and New Jersey
Jason Bram
James A. Orr
Robert W. Rich
Rae D. Rosen
Joseph Song
Abstract

The New York-New Jersey region entered a pronounced downturn in 2008, but the pace of decline eased considerably in spring 2009 and then leveled off in July, according to three key Federal Reserve Bank of New York economic indexes. These developments, in conjunction with a growing consensus that the national economy is headed for recovery, suggest that the worst may be over for the region's economy. However, a downsizing of the area's critical finance sector could pose a major risk to the economic outlook going forward--particularly for New York City.


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Jason Bram & James A. Orr & Robert W. Rich & Rae D. Rosen & Joseph Song, "Is the worst over? Economic indexes and the course of the recession in New York and New Jersey" , Federal Reserve Bank of New York, Current Issues in Economics and Finance, volume 15, issue Sep, 2009.
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Keywords: Federal Reserve Bank of New York ; Federal Reserve District; 2nd ; Economic conditions ; Economic indicators
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