Governor's Statement Regarding Federal Reserve Bank Report

TRENTON - Governor Jon S. Corzine issued the following statement regarding the Federal Reserve Bank of Philadelphia's Third District Leading Indexes Report for July 2009 indicating that New Jersey's economy returned to positive growth in the last seventeen months: 

"The report by the Federal Reserve Bank is a positive sign, and another in a growing list of indicators that we are seeing the beginnings of recovery for New Jersey," Governor Corzine said.  "From creating 13,000 new private sector jobs in July to improving home sales data, it's becoming increasingly clear that while we are by no means out of the woods, we are seeing the end of the path of this recession.  By cutting the state budget from $33 billion to $29 billion, initiating the nation's first recovery and assistance program, and fast-tracking infrastructure projects, New Jerseyans have worked together to get through a national economic crisis and positioned ourselves to come back stronger than ever." 

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