This report summarizes responses to topical questions posed periodically in the New York Fed’s Empire State Manufacturing Survey and Business Leaders Survey.
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Supplemental Survey Report
May 2023: Businesses Report Only Minor Deterioration in Recent Credit Conditions, but Remain Cautious in the Near Term
Special questions for panelists responding to the May regional surveys focused on past and projected changes in access to credit. Among the findings, about 20 percent of firms in both the manufacturing and service sectors reported worsening conditions over the last three months (since February), though this was very similar to the share reporting conditions had worsened in the three months prior (November to January). These readings suggest little change in credit availability trends over the past several months, on average. Firms were also queried on what actions they were taking in response to changes in credit availability and answered questions geared toward assessing their exposure to interest rate risk.
Read the full report entitled “Businesses Report Only Minor Deterioration in Recent Credit Conditions, but Remain Cautious in the Near Term.”
Regional Economy
Read the full report entitled “Businesses Report Only Minor Deterioration in Recent Credit Conditions, but Remain Cautious in the Near Term.”
Related Reading
Additional research and data from our Regional team:Regional Economy
Reports
2023 |
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| May | Credit Access and Credit Conditions Businesses Report Only Minor Deterioration in Recent Credit Conditions, but Remain Cautious in the Near Term |
| February | Expected Changes in Workforce and Wages; Minimum Wage Effects Wages Up 5-6 Percent in the Past Year; Gains Expected to Moderate over the Next Year |
2022 |
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| December | Selling Prices, Input Prices, and Overall Inflation Businesses Foresee Inflation Moderating Next Year |
| November | Workforce Issues Firms Struggling to Expand Workforce |
| August | Trends in Remote Work Service Sector Businesses See Remote Work Persisting Related reading: Liberty Street Economics post |
| May | Expected Selling Prices and Overall Inflation Businesses See Inflation Moderating after Next Year Related reading: Liberty Street Economics post |
| February | Labor and Supply Shortages, Absenteeism, and Minimum Wage Businesses Hampered by Supply Disruptions, Labor Shortages, and Absenteeism Related reading: Liberty Street Economics post |
2021 |
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| December | Prices Paid and Supply Disruptions Businesses Report Sharp Acceleration in Most Costs |
| November | Supply Chain and Workforce Issues Supply Disruptions Seen Worsening; Firms Struggling to Expand Workforce |
| October | Supply Disruptions Supply Disruptions Taking a Toll on Many Businesses Related reading: Liberty Street Economics post |
| August | Difficulties in Filling Job Openings Most Businesses Having Difficulty Filling Job Openings |
| June | Sales Activity, Employment Levels, and Remote Work Businesses Expect a Strong Half of 2021 and More Remote Working after the Pandemic |
| April | Business Revenues, Constraints, and Wages Business Revenues Seen Rebounding When Conditions Return to Normal Related reading: Liberty Street Economics post |
| February | Minimum Wage Effects and Supply Disruptions Manufacturers Report More Unfilled Jobs, Note Fairly Widespread Supply Disruptions |
Archive
Past Supplemental Survey Reports, 2014-20
Predecessor Reports (supplementing Empire survey only), 2008-13
About Supplemental Survey Report
The New York Fed’s core regional surveys query manufacturing and service sector firms on issues affecting their businesses. A Supplemental Survey Report now publishes four times per year.
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