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Introducing the New York Innovation Center: Delivering a central bank innovation execution
Do you have a Freedom of Information request? Learn how to submit it.
See the world's largest accumulation of gold as you learn about the New York Fed and Federal Reserve System on a free tour.
The latest Annual Report chronicles the impact of Federal Reserve policies and includes data on the New York Fed's operations.
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The mission of the Applied Macroeconomics and Econometrics Center (AMEC) is to provide intellectual leadership in the central banking community in the fields of macro and applied econometrics.
The Center for Microeconomic Data offers wide-ranging data and analysis on the finances and economic expectations of U.S. households.
The monthly Empire State Manufacturing Survey tracks the sentiment of New York State manufacturing executives regarding business conditions.
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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.
The New York Fed works to protect consumers as well as provides information and resources on how to avoid and report specific scams.
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The New York Fed provides a wide range of payment services for financial institutions and the U.S. government.
The New York Fed offers the Central Banking Seminar and several specialized courses for central bankers and financial supervisors.
The New York Fed has been working with tri-party repo market participants to make changes to improve the resiliency of the market to financial stress.
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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.
This Economist Spotlight Series is created for middle school and high school students to spark curiosity and interest in economics as an area of study and a future career.
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 November 2 and November 9. Download the full report  Read this month's Supplemental Survey Report on Supply chain and workforce issues |
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Business activity continued to grow modestly in the region’s service sector, according to firms responding to the Federal Reserve Bank of New York’s November 2021 Business Leaders Survey. The survey’s headline business activity index held steady at 15.9. The business climate index, however, fell to -19.6, indicating that firms generally viewed the business climate as worse than normal for this time of year. Employment levels and wages continued to rise at a solid clip. Both the prices paid and prices received indexes moved higher, pointing to yet another month of accelerating input and selling price increases, and capital spending expanded. Looking ahead, firms expect conditions to improve over the next six months, though optimism dipped.
Growth Remains Modest
Business activity in the region’s service sector grew modestly for a third consecutive month, according to the November survey. The headline business activity index held steady at 15.9, about the same reading as in September and October. Thirty-seven percent of respondents reported that conditions improved over the month, while 21 percent said that conditions worsened. The business climate index fell eleven points to -19.6, its third consecutive negative reading, indicating that on net, firms viewed the business climate as worse than normal for this time of year. Price Increases Continue to Accelerate
The employment index was little changed at 20.6, pointing to ongoing moderate increases in employment levels. At 56.0, the wages index was up five points from October, signaling another month of strong wage growth. The pace of both input price and selling price increases continued to pick up: the prices paid index climbed three points to 83.2, and the prices received index advanced five points to 41.7. The capital spending index edged up three points to 16.4. Optimism Dips
While firms were still sanguine, the level of optimism about future conditions declined. The index for future business activity retreated eight points to 33.7, while the index for future business climate fell to 17.3. Strong gains in employment, wages, and prices are expected in the months ahead, and capital spending plans remained solid. 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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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 |
