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The Region

Learn more about the communities we serve within the Second District—including New York State, the 12 northern counties of New Jersey and Fairfield County in Connecticut.

Features

New York Fed president Dudley visits New Jersey to discuss local economic conditions and meet community and business leaders August 18, 2011

New York Fed provides update on regional economy and insight on recent job creation August 12, 2011

Small Business Finances The May 2011 Small Business Borrowers Poll takes a fresh look at borrower demand by asking firms not only about credit applications but also about reasons for not seeking credit. Released August 2011

New York Fed announces new results from small business borrowers poll August 11, 2011

New York Fed releases new analysis and data on regional housing conditions as part of new online resource June 27, 2011

Second District Metro Areas Provides an overview of the Second Federal Reserve District, delineating metropolitan areas in New York State, northern New Jersey and Fairfield County, Connecticut.

Recent Speeches

Impact of the Great Recession on Public Schools in the Region Remarks by President Dudley at the Quarterly Regional Economic Press Briefing, New York City January 27, 2012

Research Highlights

Long Island Mortgage Distress: Analysis at the Neighborhood Level Data analysis shows Long Island’s Nassau and Suffolk counties contain some of the highest ratios of distressed nonprime mortgages in the nation. Half of these distressed mortgages are on properties located in just 22 of the region’s roughly 200 Zip codes. Posing further risk for these neighborhoods are negative borrower equity loans —a condition that occurs when a house is worth less than what is owed on the loan. National studies suggest that borrowers with negative equity have a higher risk of defaulting on their mortgages. Long Island Mortgage Distress: Analysis at the Neighborhood Level May 6, 2010

Bypassing the Bust: The Stability of Upstate New York’s Housing Markets during the Recession Over the past decade, the United States has seen real estate activity swing from boom to bust. But upstate New York has been largely insulated from this volatility, with metropolitan areas such as Buffalo, Rochester and Syracuse even registering home price increases during the recession. March 30, 2010

Current Economic Indicators

Index of Coincident Economic Indicators December CEI data show continued growth in activity in New Jersey, but a slight decline in New York State. Activity in New York City remained essentially flat. For December 2011, released January 2012

Empire State Manufacturing Survey Climbed five points to 13.5. The new orders index rose seven points to 13.7 and the shipments index inched up to 21.7. January 17, 2012

Beige Book Second District's economy has grown at a somewhat faster pace since last report. January 11, 2012

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