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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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Learn about the history of the New York Fed and central banking in the United States through articles, speeches, photos and video.
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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.
Need to file a report with the New York Fed? Here are all of the forms, instructions and other information related to regulatory and statistical reporting in one spot.
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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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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 November 3 and November 10. Download the full report 
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Business activity continued to decline significantly in the region’s service sector in November, according to firms responding to the Federal Reserve Bank of New York’s Business Leaders Survey. The survey’s headline business activity index was little changed at -21.7. The business climate index held steady at -42.2, suggesting the business climate remained worse than normal. Employment declined for a third consecutive month, and wage growth remained modest. Supply availability continued to worsen somewhat. Both input price increases and selling price increases slowed. Looking forward, on the whole, firms expected little improvement in conditions in the months ahead.
Activity Continues to Decline
Business activity continued to fall substantially in the New York-Northern New Jersey region, according to the November survey. The headline business activity index was little changed at -21.7. Twenty-two percent of respondents reported that conditions improved over the month while 43 percent said that conditions worsened. The business climate index remained negative at -42.2, with 55 percent reporting an unfavorable business climate. Employment Moves Lower
The employment index fell three points to -8.6, its third consecutive negative reading and a multiyear low, suggesting employment continued to decline. The wages index held steady at 25.4, indicating that wage growth remained modest. The prices paid index moved down five points to 61.9, and the prices received index dropped six points to 20.1, its lowest level since January, pointing to a slowing in both input and selling price increases. The supply availability index remained negative at -11.1, indicating that supply availability continued to worsen. Firms Still Not Expecting Much Improvement
The index for future business activity remained slightly negative at -4.6, suggesting firms continued to be somewhat pessimistic about the outlook, with just over a third expecting activity to be lower in six months. The indexes for future prices paid and future prices received both remained elevated. Firms expect little employment growth in the months ahead, and capital spending plans remained soft. 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 |
