It therefore is not warning of a new recession on the horizon, and their coincident index points toward ongoing economic growth.

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The compromise legislation includes a procedural trigger so that the provisions only go into effect if the economy continues its recovery, using the Federal Reserve Bank of New York's Coincident index, which is a measure of New York City's economic strength.

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Their chart shows that both the Leading Economic Index (LEI) as well as the Coincident Economic Index (CEI) are both still clearly rising.

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Also plotted is their Coincident Economic Index (CEI), which has continued to make higher highs since bottoming in 2009.

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