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New York City Comptroller William C. Thompson, Jr. today released the May 2002 issue of Economic Notes. The report, a quarterly review of economic statistics affecting the City, found that the City's recession continues despite an earlier and stronger-than-expected rise in the nation's Gross Domestic Product.

The quarterly update provides additional detail in support of the "Comptroller's Comments on the Economic Assumptions Underlying the Executive Budget for FY 2003" released May 2, 2002 and the "Comptroller's Comments on the FY 2003 Executive Budget" released May 9, 2002.

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