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We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Economic Research
We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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We work with community partners to identify and address economic challenges and opportunities in low- and moderate-income communities in the Fifth District.

Featured

Article

Will COVID-19 Leave Lasting Economic Scars?

June 2020, No. 20-07

To the extent that the COVID-19 outbreak generates large, temporary reductions in demand for certain goods and services, its long-term economic effects may resemble those of the housing crisis of 2006–09, which scarred many regions of the U.S.

Report

The Long-Term Effects of Educational Disruptions

Special Reports

May 22, 2020

By Santiago Pinto and John Bailey Jones

State and local governments will be forced to sharply reduce their expenditures as a result of the COVID-19 pandemic and measures taken to contain it. Combined with school closures, this may have irreversible effects on some school-age students.

Publications

Plants in Space

Working Paper Series

May 2020, No. 20-05

Ezra Oberfield, Esteban Rossi-Hansberg, Pierre-Daniel G. Sarte and Nicholas Trachter

Social Distancing, Quarantine, Contact Tracing, and Testing: Implications of an Augmented SEIR Model*

Working Paper Series

May 2020, No. 20-04

Andreas Hornstein

Is There News in Inventories?

Working Paper Series

May 2020, No. 20-03

Christoph Gortz, Christopher Gunn and Thomas A. Lubik

Data & Analysis

Fifth District Surveys of Manufacturing and Service Sector Activity

May 27, 2020

Manufacturing activity remained soft in April, while the service sector continued to be weak.

Month,Manufacturing Composite,Service Sector Revenues
2010-05-01,15.33333302,2.666666746
2010-06-01,16,4
2010-07-01,10.33333302,3.333333254
2010-08-01,7,.6666666865
2010-09-01,4.333333492,-1.333333373
2010-10-01,5.666666508,-1.666666627
2010-11-01,8.666666985,.3333333433
2010-12-01,16,7
2011-01-01,16.66666603,10.66666698
2011-02-01,16.66666603,12.33333302
2011-03-01,14,9.666666985
2011-04-01,11,11.33333302
2011-05-01,6.333333492,10.66666698
2011-06-01,3,8.333333015
2011-07-01,3.333333254,7.333333492
2011-08-01,4,6.666666508
2011-09-01,2,6.666666508
2011-10-01,-.3333333433,2
2011-11-01,-1.666666627,2.666666746
2011-12-01,-3,8
2012-01-01,-.3333333433,11.66666698
2012-02-01,3,11.66666698
2012-03-01,6.333333492,13
2012-04-01,7.666666508,12.66666698
2012-05-01,8,11.33333302
2012-06-01,6,6.666666508
2012-07-01,0,3.333333254
2012-08-01,-4.666666508,1.333333373
2012-09-01,-2.666666746,1
2012-10-01,-.6666666865,2.333333254
2012-11-01,1.666666627,5.333333492
2012-12-01,.3333333433,4.333333492
2013-01-01,-4,9
2013-02-01,-3.666666746,9.333333015
2013-03-01,-3.333333254,8.666666985
2013-04-01,-1,1.666666627
2013-05-01,-2.666666746,1.666666627
2013-06-01,-1.333333373,4.333333492
2013-07-01,.3333333433,6.666666508
2013-08-01,4,6.333333492
2013-09-01,2,4.666666508
2013-10-01,3.333333254,3.333333254
2013-11-01,4.333333492,1
2013-12-01,8.666666985,3
2014-01-01,10,3.333333254
2014-02-01,5.333333492,4.666666508
2014-03-01,0,3.666666746
2014-04-01,0,6.666666508
2014-05-01,3.333333254,8.666666985
2014-06-01,6.333333492,9.666666985
2014-07-01,6,11
2014-08-01,7.333333492,13
2014-09-01,11,16.33333397
2014-10-01,16,19.33333397
2014-11-01,13.66666698,22.33333397
2014-12-01,10,20
2015-01-01,4.333333492,16.66666603
2015-02-01,2.333333254,15.33333302
2015-03-01,-.6666666865,16
2015-04-01,-4,14.66666698
2015-05-01,-2.333333254,11
2015-06-01,2,12.66666698
2015-07-01,7,17.33333397
2015-08-01,6.666666508,24.33333397
2015-09-01,3,20.66666603
2015-10-01,1.666666627,17.33333397
2015-11-01,1,9
2015-12-01,3,10.33333302
2016-01-01,3,10
2016-02-01,-.3333333433,8.333333015
2016-03-01,3.333333254,8
2016-04-01,4.666666508,6.666666508
2016-05-01,8.666666985,9
2016-06-01,1,5.333333492
2016-07-01,.6666666865,2.666666746
2016-08-01,-1.666666627,0
2016-09-01,-1.666666627,3
2016-10-01,-3.333333254,5.333333492
2016-11-01,-.6666666865,9
2016-12-01,4,8.666666985
2017-01-01,8,13.33333302
2017-02-01,12.33333302,15.33333302
2017-03-01,16.33333397,15.33333302
2017-04-01,18.33333397,14.66666698
2017-05-01,14.33333302,18.66666603
2017-06-01,12,22
2017-07-01,9.333333015,20
2017-08-01,12.33333302,17.33333397
2017-09-01,14.33333302,17.66666603
2017-10-01,15.33333302,22.33333397
2017-11-01,19.66666603,26.66666603
2017-12-01,20.66666603,28
2018-01-01,21.66666603,26
2018-02-01,20.66666603,23
2018-03-01,18.33333397,21.33333397
2018-04-01,13.33333302,16
2018-05-01,11.66666698,14
2018-06-01,13.66666698,14
2018-07-01,19.66666603,20.33333397
2018-08-01,20.66666603,23
2018-09-01,22.66666603,22.66666603
2018-10-01,21.33333397,16
2018-11-01,17.66666603,9.666666985
2018-12-01,8,7
2019-01-01,2.666666746,8.666666985
2019-02-01,4,11.66666698
2019-03-01,8.333333015,10
2019-04-01,11,14.66666698
2019-05-01,8.666666985,10.33333302
2019-06-01,6,14
2019-07-01,-1,10
2019-08-01,-3,11
2019-09-01,-6.666666508,7.666666508
2019-10-01,0,12
2019-11-01,-.6666666865,15
2019-12-01,.6666666865,18.66666603
2020-01-01,4.666666508,14
2020-02-01,4.333333492,17.66666603
2020-03-01,6.666666508,12.33333302
2020-04-01,-17.66666603,-20
2020-05-01,-26,-44.66666794

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Economic Research

We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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