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NYC Economy is Expanding Rapidly

NYFedCEI2014 [1]

According the Federal Reserve Bank of New York, the NYC economy is crushing it [1], growing far faster than the states of New York and New Jersey.

They are using an Index of Coincident Economic Indicators:

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.