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.

 

Download the full report pdf
Read this month's Supplemental Survey Report on Expected changes in workforce

Activity in the region’s service sector declined for a fourth consecutive month, according to firms responding to the Federal Reserve Bank of New York’s November 2016 Business Leaders Survey. While the survey’s headline business activity index climbed six points from October’s level, it remained negative at -6.8. Similarly, the business climate index rose six points to -23.9, signaling that respondents generally continued to view the business climate as worse than normal, though to a lesser extent than last month. The employment index was little changed at 8.0, pointing to a modest increase in employment levels, and the wages index moved down six points to 26.9, its lowest level this year, suggesting that wage increases slowed. The prices paid index held steady at 35.8, signaling that input prices continued to rise at a moderate pace, while the prices received index fell five points to 3.8, suggesting only a small increase in selling prices. Indexes for current and future capital spending plans moved higher. Looking ahead, indexes assessing the six-month outlook indicated that firms were more optimistic about future business conditions.

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Released at 8:30 a.m.

 
2016

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

2017

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

Historical Reports >>

Please note that there are minor changes to the Business Leaders Survey with the October release. The text files have been discontinued, the header row has been removed from the CSV files, the order of some variables are changed, and results are now reported to one decimal place instead of two. Questions or feedback can be sent to Richard Deitz (richard.deitz@ny.frb.org) or Jason Bram (jason.bram@ny.frb.org).

Charts of diffusion indexes (past 12 months) 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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