NY Times Business

The economy of New York City encompasses the largest municipal as well as regional economy in the United States. Anchored by Wall Street, in Lower Manhattan, New York City has been characterized as the world’s premier financial center, and is home to the New York Stock Exchange and NASDAQ, the world’s largest stock exchanges by market capitalization and trading activity. In 2012, the New York City Metropolitan Statistical Area generated a gross metropolitan product (GMP) of over US$1.33 trillion, while the Combined Statistical Area produced a GMP of over US$1.55 trillion, both ranking first nationally by a wide margin and being roughly equivalent to the GDP of South Korea.  The city’s economy accounts for the majority of the economic activity in the states of New York and New Jersey