- NJ’s economy shrinks (-2.2%) at rate larger than U.S. average (1.6%) to begin 2022
- Rate of decline is larger than all neighboring states in the region
- Significant decline noted in nondurable goods manufacturing
- National economic slowdown raises concerns over NJ’s lagging performance
the staff of the Ridgewood blog
Morristown NJ, on June 30th, the United States Bureau of Economic Analysis issued its report on the Gross Domestic Product (GDP) by State for the 1st Quarter of 2021, which covers the months of January through March. Dr. Charles Steindel, former Chief Economist of the State of New Jersey, analyzed the report for the Garden State Initiative:
Continue reading New Jersey’s Real GDP fell at an Annual Rate of 2.2% in the First Quarter of 2022
