Business Leaders Survey

A monthly survey of service firms in New York State, northern New Jersey and southwestern Connecticut, conducted by the New York Fed.

 

Note: Survey responses were collected between May 4 and May 10.

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Activity in the region’s service sector continued to decline sharply, according to firms responding to the Federal Reserve Bank of New York’s May 2020 Business Leaders Survey. At -75.8, the survey’s headline business activity index was little changed from last month’s record low. The business climate index was also little changed, at -92.9, indicating that for a second consecutive month, firms were nearly universal in regarding the business climate as worse than normal. Employment levels and wages continued to decline. Input price increases remained modest, while selling prices continued to fall. Capital spending declined significantly. Looking ahead, firms were generally pessimistic about the six-month outlook, though much less so than in April.

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Released at 8:30 a.m.

 

2020

JAN
FEB
MAR
APR
16   report PDF
19   report PDF
17   report PDF
16   report PDF
MAY
JUN
JUL
AUG
18   report PDF
16
16
18
SEP
OCT
NOV
DEC
16
16
17  
16

Historical Reports >>


Latest Report including charts of diffusion indexes PDF

Historical Tables

Diffusion Indexes
csv

Data definitions PDF 2 pages / 10 kb

All Data
csv

Data definitions PDF 2 pages / 10 kb

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.

The survey is sent on the first business day of each month to the same pool of about 150 business executives, usually the president or CEO, in the region's service sector. In a typical month, about 100 responses are received by around the tenth of the month when the survey closes.

For demonstration only:
Sample survey PDF 3 pages / 44 kb

Respondents come from a wide range of industries outside of the manufacturing sector, with the mix of respondents closely resembling the industry structure of the region.

The survey's headline index, general business activity, is a distinct question posed on the survey (as opposed to a composite of responses to other questions). Currently, no indexes are seasonally adjusted since none of the series exhibits stable seasonal patterns from a statistical perspective.

Contacts
Tech help: nyrsf.webteam@ny.frb.org

Questions about survey/data: richard.deitz@ny.frb.org or (716) 849-5025; jason.bram@ny.frb.org or (212) 720-5651


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