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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.
This ongoing Liberty Street Economics series analyzes disparities in economic and policy outcomes by race, gender, age, region, income, and other factors.
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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.
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 March 2 and March 9. Download the full report  |
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Activity continued to decline modestly in the region’s service sector, according to firms responding to the Federal Reserve Bank of New York’s March 2023 Business Leaders Survey. The survey’s headline business activity index edged up three points but remained negative at -10.1. The business climate index moved down four points to -38.8, suggesting the business climate remains much worse than normal. Employment was somewhat higher, and wage increases were less widespread than last month. Input price increases slowed slightly, while selling price increases were little changed. Looking ahead, firms expect little improvement over the next six months.
Activity Continues to Contract
Business activity declined in the region’s service sector for a sixth consecutive month, according to the March survey. The headline business activity index rose three points but remained negative at -10.1. Twenty-four percent of respondents reported that conditions improved over the month and thirty-four percent said that conditions worsened. The business climate index moved down four points to -38.8, suggesting that the business climate remains much worse than normal. Ongoing Modest Employment Gains
The employment index was little changed at 6.7, signaling another month of small employment gains. At 49.7, the wages index was down seven points, indicating that wage growth was less widespread than last month. The prices paid index fell four points to 64.8, pointing to a small deceleration in input price increases, while the prices received index held steady at 33.1. Capital spending grew modestly. Firms Expect Little Improvement
Conditions are expected to improve only slightly over the next six months. The index for future business activity held steady at 6.8, while the index for the future business climate fell eight points to -11.8. Employment is expected to grow modestly in the months ahead, and wage and price increases are expected to remain widespread. 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 |
