The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Indexes of Coincident Economic Indicators (CEI) for the New York-New Jersey Region 1995 to present
Our Indexes of Coincident Economic Indicators (CEI) for November show economic activity continued to expand at a rapid pace in New York City, at a moderate pace in New York State, and at a modest pace in New Jersey. This estimation incorporates newly-released 2013 wage and salary disbursements for New York City (New York and New Jersey revisions occurred earlier in the year).
Background A coincident index is a single summary statistic that tracks the current state of the economy. The index is computed from a number of data series that move systematically with overall economic conditions. A rise in the index indicates an expansion of economic activity and a decline in the index indicates a contraction in economic activity. Each of the regional indexes is computed using data on employment, real earnings, the unemployment rate and average weekly hours worked in manufacturing. The estimated New York State, New York City, and New Jersey Coincident Indexes are then calibrated to match the mean and standard deviation of their respective real earnings series.