July 30, 2024 | roi-nj.com
Credit: Image by Gerd Altmann from Pixabay
The Citizens Business Conditions Index, a data-driven metric that traces economic momentum, has grown in New Jersey for the second straight quarter, coming in at 52.57.
The CBCI also is up nationally, coming in at 52.2.
Any reading above 50 indicates that economic momentum is building. New Jersey fell well below that number in the fourth quarter of 2023, when it recorded a score of 47.47 — the state’s lowest since the first quarter of 2020 (or the start of the pandemic). This quarter marked the highest mark since New Jersey hit 52.76 in the first quarter of 2023.
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