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 & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.
Indexes of Coincident Economic Indicators (CEI) for the New York-New Jersey Region 1995 to present
Our Indexes of Coincident Economic Indicators (CEI) for May show economic activity growing at a fairly strong pace in New York State and in New York City, with moderate growth in New Jersey.
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.