New Jersey Economy Stagnant

WNYC News | Jul 12, 2010

New York, NY —

New Jersey's economy was all but stagnant last month, following 2 months of healthy growth.

That's according to a report by the Federal Reserve Bank of Philadelphia. The regional bank says the Garden State's economy expanded by just 1/10 of 1% in November, after growing by 3/10 of a percent each in September and October.

Experts say it's too soon to say whether November's tiny growth is a one-month blip or the start of a trend. The current economic index is calculated using data and survey results covering areas including the unemployment rate and average hours worked in manufacturing.

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