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The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
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The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
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The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
The growing role of nonbank financial institutions, or NBFIs, in U.S. financial markets is a transformational trend with implications for monetary policy and financial stability.
The New York Fed offers the Central Banking Seminar and several specialized courses for central bankers and financial supervisors.
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The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
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A monthly survey of service firms in New York State, northern New Jersey and southwestern Connecticut, conducted by the New York Fed.
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Note: Survey responses were collected between December 2 and December 9. Download the full report 
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Business activity contracted slightly in the region’s service sector in December, according to firms responding to the Federal Reserve Bank of New York’s Business Leaders Survey. The survey’s headline business activity index moved down five points to -5.2. The business climate index remained firmly negative at -23.7, suggesting the business climate remains worse than normal. Employment was little changed, and wages increased at about the same pace as last month. Supply availability improved somewhat. Input price increases held steady, while selling prices increased at the slowest pace in more than three years. Looking ahead, firms remained optimistic that conditions would improve in the coming months.
A Small Decline in Activity
Business activity fell slightly in the New York-Northern New Jersey region, according to the December survey. The headline business activity index declined five points to -5.2. Twenty-three percent of respondents reported that conditions improved over the month and 28 percent said that conditions worsened. The business climate index remained negative at -23.7, pointing to an ongoing worsening business climate. Selling Price Increases Slow Further
The employment index fell six points to -1.0, its lowest level in several months, suggesting employment levels were little changed. The wages index held steady at 29.4, indicating that wages increased at about the same pace as the past couple of months. The prices paid index was similar to last month at 47.7, a sign that input price increases were little changed, while the prices received index fell five points to 11.7, a multiyear low, suggesting price increases moderated. Supply availability improved slightly. Optimism Continues to Grow
The index for future business activity climbed for a fifth consecutive month, rising four points to 28.0, and the index for the future business climate remained positive at 11.9, suggesting firms expect activity to improve and the business climate to be better than normal in six months. A modest increase in employment is also expected in the months ahead. Contacts Tech help: nyrsf.webteam@ny.frb.org Questions about survey/data: richard.deitz@ny.frb.org or (716) 849-5025 |
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Historical Reports >>
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Latest Report including charts of diffusion indexes Historical Tables |
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The Business Leaders Survey is a monthly survey conducted by the Federal Reserve Bank of New York that asks companies across its District - which includes New York State, Northern New Jersey, and Fairfield County, Connecticut - about recent and expected trends in key business indicators. This survey is designed to parallel the Empire State Manufacturing Survey, though it covers a wider geography and the questions are slightly different. Participants from the service sector respond to a questionnaire and report on a variety of indicators, both in terms of recent and expected changes. While January 2014 is the first published report, survey responses date back to September of 2004 and all historical data are available on our website. Contacts |
