Hey. Went to the NYSIA panel tonight - 3 economists and no one fell asleep. They discussed the prospects for NY in the next year - and the opinions ranged from guarded optimism from the JPM Chase guy through neutral pessimism from the woman at the Fed Reserve, to pessimistic from the gentleman at the NYC Comptroller's office.
The city's Gross Product (kind of like GDP but for NYC) needs to grow about 4%, and it will probably only grow 2%. The unemployment rate is about 7.8% compared with about 5.7% for the US as a whole. It's going to continue to be ugly for another year, I think. But the economy as a whole should grow, and that may help, especially if your business is in NY and sells outside of it.
More tomorrow, when I'm more awake.
10:37:31 PM 
|
