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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.
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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We are connecting emerging solutions with funding in three areas—health, household financial stability, and climate—to improve life for underserved communities. Learn more by reading our strategy.
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 August 2 and August 9. Download the full report 
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Business activity held steady in the region’s service sector in August, according to firms responding to the Federal Reserve Bank of New York’s Business Leaders Survey. The survey’s headline business activity index moved up six points to 1.8. The business climate index was little changed at -25.0, suggesting the business climate remains worse than normal. Employment expanded, albeit at a slower pace than in recent months, and wages increased at about the same pace as in recent months. Supply availability improved slightly. Input and selling price increases were little changed. Capital spending grew a touch after declining for the prior two months. Looking ahead, firms were not very optimistic that conditions would improve in the months ahead.
Conditions Somewhat Better Than in Recent Months
Business activity was little changed in the New York-Northern New Jersey region, according to the August survey. The headline business activity index climbed six points to 1.8, rising above zero for the first time since May. Twenty-nine percent of respondents reported that conditions improved over the month and 27 percent said that conditions worsened. The business climate index held steady at -25.0, pointing to an ongoing worsening in the business climate. Employment Continues to Grow
The employment index remained positive for a sixth consecutive month, though it fell five points to 7.0. The wages index came in at 33.3, a level similar to the prior few months, indicating that wage increases were steady. Both the prices paid and prices received indexes were similar to the prior two months, suggesting price increases held steady. The capital spending index was slightly positive at 3.0. Firms Not Very Optimistic
The index for future business activity was little changed at 8.7, and the index for the future business climate remained negative at -12.3, suggesting that firms were not very optimistic that conditions would improve over the next six months. The outlook for future employment growth fell to a multiyear low. 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 |
