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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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Download the full report  Read this month's Supplemental Survey Report on Outlook for the second half of 2017 |
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Activity in the region’s service sector expanded slightly, according to firms responding to the Federal Reserve Bank of New York’s June 2017 Business Leaders Survey. The survey’s headline business activity index edged down three points but remained positive at 3.4. The business climate index tumbled eighteen points to -15.5, signaling that respondents viewed the business climate as worse than normal. The employment index fell to 2.7, indicating a slight increase in employment levels, while the wages index retreated 12 points to 27.5, suggesting that wages rose but at a slower pace than last month. Price indexes declined, pointing to a slowing of both input price increases and selling price increases. Capital spending grew modestly, and indexes assessing the six-month outlook suggested that firms continued to express fairly widespread optimism about future business conditions..
Activity Increases Only Slightly as Business Climate Worsens
Business activity in the region’s service sector grew modestly in June. The headline business activity index fell three points to 3.4. Thirty-two percent of respondents reported that conditions improved over the month, while 28 percent said conditions worsened. The business climate index dropped to its lowest level in several months, plunging 18 points to -15.5, suggesting that, on balance, firms viewed the business climate as worse than normal. Employment and Wage Growth Slow
The employment index fell four points to 2.7, signaling that employment levels increased slightly. The wages index retreated twelve points to 27.5, suggesting that wage growth slowed. Both price indexes slipped nine points, the prices paid index to 36.2 and the prices received index to 8.8, pointing to a slowing in both input and selling price increases. The capital spending index edged up two points to 13.4. Firms Remain Optimistic about Future Conditions
Indexes assessing the six-month outlook continued to convey optimism about future conditions, though to a somewhat lesser extent than last month. The index for future business activity edged down to 31.6, and the index for future business climate fell four points to 16.7. The index for expected employment rose five points to 26.5, and the index for planned capital spending climbed three points to 20.4. 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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Released at 8:30 a.m.
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2017
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JAN
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FEB
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MAR
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APR
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18 report
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16 report
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16 report
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18 report
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MAY
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JUN
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JUL
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AUG
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16 report
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16 report
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18
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16
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SEP
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OCT
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NOV
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DEC
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18
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17
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16
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18
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Historical Reports >>
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Charts of diffusion indexes (past
12 months) Historical Tables |
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| All Data csv Data definitions 2 pages / 10 kb |
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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 |
