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Jun 28, 2016

Federal Reserve Bank of New York | in Review: June 2016

Federal Reserve Bank of New York, In Review
June 2016

Examining Housing Expectations

Photo of a row of houses

The New York Fed’s SCE Housing Survey, which provides information on consumers’ housing-related experiences and expectations, shows a modest decline in home price growth projections. However, the majority of households still view housing as a good financial investment.   

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Consumers Expect Slower Earnings and Income Growth, Rebound in Job Finding Prospects

Photo of chart and magnifying glass

Earnings growth and household income growth expectations fell somewhat, according to the June Survey of Consumer Expectations. However, more people expressed optimism about the U.S. economy, saying they expect the nation’s unemployment to be lower one year from now than it is today.

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Mapping the Differences in New York City School Spending

New York City school spending research

A new interactive web utility details school spending in New York City. Users can observe how much each community school district spends per student in 2012 dollars. Users can also compare between two forms of school finance data: (i) “adjusted” data that controls for student categories that receive differential funding from the city based on students’ needs and (ii) raw data that does not include this adjustment.
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Looking at the Region

The June Beige Book reported soft retail sales in the Second District.

The Fed’s Beige Book, a collection of anecdotal information on current economic conditions, showed that retail sales in the New York Fed's district weakened in April and remained soft in early May. Upstate New York housing markets reported strength, with brisk sales activity and tight inventory. Demand for consumer loans, residential and commercial mortgages were all up since the last report in mid-April.

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Looking at the Nation with the Snapshot

Photo of a warehouse aisle with worker

The latest U.S Economy in a Snapshot showed slowing payroll growth in May. Indicators provided mixed signals about the state of manufacturing whereas headline inflation rose due to higher energy prices.  

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After dipping below zero in May, the general business conditions index rose 15 points to 6.0, suggesting a modest expansion for New York manufacturers. 


The Business Leaders Survey’s employment index was little changed at 5.1, pointing to a small increase in employment levels in the region's service sector.