Every month, the New York Fed releases its index of coincident economic indicators for New York City, New Jersey and New York State (which also includes New York City)
The index is compiled from a number of data series that move systematically with overall economic conditions (employment, real earnings, the unemployment rate and average weekly hours worked in manufacturing).
As you can see, New York City was already way ahead of the pack before the recession, and its index point is now at its highest level ever, at 173.53. New York State’s index point, 132.1, would be even lower than New Jersey’s (125.9) without it.
Luckily, all three indexes have swung back upward.