Latest News Stream - Ny Fed Services Activity Index

The New York Fed’s Services Business Activity Index fell to -20.7 in October 2026 from -8.7 in September, marking its lowest level since March as business activity contracted at a faster pace. The business climate index was little changed at -35.0, with just over half of respondents describing conditions as worse than normal. Employment was steady, while wage growth remained modest. Supply availability continued to deteriorate, although at a slower pace than in September. Input price increases remained sharp, while selling price increases accelerated to their fastest pace since 2022. Capital spending remained weak. Looking ahead, firms turned pessimistic about the six-month outlook, with the expectations index falling into negative territory for the first time since December 2025. Expectations for future input and selling price increases remained elevated and largely unchanged.

The New York Fed’s Services Business Activity Index dropped to -8.7 in September 2026 from 0.5 in August, reversing the upbeat sentiment recorded over the previous two months. The business climate index fell ten points to -35.9, as nearly half of respondents reported an unfavorable climate, indicating that business conditions were notably worse than normal as supply availability continued to deteriorate. Employment edged lower by seven points to -4.9, while wage growth remained close to levels seen in recent months. Input price growth continued to increase significantly, while selling-price pressures also picked up. Capital spending remained weak. Looking ahead, firms expect modest growth in business activity over the next six months, with employment expected to increase. Price pressures are also expected to remain elevated as supply availability continues to deteriorate.

The New York Fed’s Services Business Activity Index dropped to 0.5 in August 2026 from 8.7 in July, which was the highest reading since May 2022. The business climate index remained deeply negative at -25.7, with 43% of respondents reporting unfavorable business conditions. At the same time, the supply availability index fell five points to -14.3, indicating a sharper deterioration in supply conditions than in the previous month Meanwhile, employment saw a slight improvement, while wages continued to rise at a modest pace. The prices paid index rose three points to 70.1, pointing to a modest acceleration in input price growth, while the prices received index was unchanged at 27.7. The future business climate index declined 17 points to -16.5, pointing to increased pessimism about the outlook. Employment is expected to rise modestly, while firms continue to anticipate elevated price pressures and some further deterioration in supply availability. Capital spending plans remained subdued.

The New York Fed's Services Business Activity Index rose 19 points to 8.7 in July 2026, as business activity in the service sector rose for the first time in nearly two years. The headline index reached its highest level since May 2022, with the business climate index rising 13 points to -24, indicating conditions improved significantly in recent months, though they remained below normal. Employment continued to grow, albeit at a slower pace, and wage growth moderated. Meanwhile, supply availability deteriorated further, while price increases eased slightly but remained elevated. Looking ahead, firms turned optimistic about business conditions for the first time in well over a year and do not expect the business climate to worsen over the next six months. Employment is expected to grow modestly, while supply availability is expected to worsen and capital spending remains subdued.

The New York Fed’s Services Business Activity Index fell 4 points to -10.1 in June 2026. Business activity continued to contract modestly in the region’s service sector, according to respondents to the Federal Reserve Bank of New York’s Business Leaders Survey. Although the business climate index rose 10 points to -37.3, indicating an improvement in sentiment, overall business conditions remained weak. Employment growth accelerated to its fastest pace in two years, while wages continued to increase. Meanwhile, supply chain pressures intensified, with both input and selling prices remaining elevated. Looking ahead, firms remain cautious, with business expectations continuing to reflect a subdued outlook. While employment is expected to increase, capital spending plans remain soft.

The Federal Reserve Bank of New York's general business activity index, which tracks economic activity in New York State as well as parts of New Jersey and Connecticut, rose nine points to -14 in April 2026. Twenty-four percent of respondents reported that conditions improved over the month while 38 percent said that conditions worsened. The business climate index ticked down three points to -49.3, suggesting the business climate remained much worse than normal. Employment edged slightly lower and supply availability worsened significantly. The pace of input price increases accelerated sharply, while selling price increases picked up modestly. Looking ahead, firms expect little improvement in the next six months.

The Federal Reserve Bank of New York’s general business activity index, which tracks economic activity in New York State as well as parts of New Jersey and Connecticut, rose to -16.1 in January 2026, up from -20.0 in December. This marked the highest level since August, though the reading still signaled a sharp contraction in the region’s service sector. The business climate index remained deeply negative at -34.4, indicating that conditions are worse than normal. Employment declined for the fifth consecutive month, while wage growth increased modestly. Supply availability showed little change. Both input cost and selling price increases slowed. Looking ahead, firms anticipate only modest improvements in conditions over the next six months.

The Federal Reserve Bank of New York’s general business activity index, which tracks economic activity in New York State and parts of New Jersey and Connecticut, increased to -20.0 in December 2025 from -21.7 in November. Despite the increase, the reading showed that business activity continued to decline significantly in the region’s service sector in December. Employment fell for a fourth consecutive month (-7.4 vs -8.6), and wage growth remained modest (23.7 vs 25.4). Supply availability improved somewhat (-7.4 vs -11.1). Both input price increases (72.1 vs 61.9) and selling price increases (30.5 vs 20.1) picked up. Meanwhile, firms do not expect conditions to improve much in the months ahead. The business climate index drifted down to -44.2 (vs -42.2), suggesting the business climate remained worse than normal.

The Federal Reserve Bank of New York’s general business activity index, which tracks economic activity in New York State and parts of New Jersey and Connecticut, increased to -21.7 in November 2025 from -23.6 in October which was the lowest value since January 2021. Despite the increase, the reading showed that business activity continued to decline significantly in the region’s service sector in November. Employment fell for a third consecutive month (-8.6 vs -5.2), and wage growth remained modest (25.4 vs 25.9). Supply availability continued to worsen somewhat (-11.1 vs -13.8). Both input price increases (61.9 vs 66.4) and selling price increases slowed (20.1 vs 26.4). Meanwhile, firms do not expect conditions to improve much in the months ahead. The business climate index was little changed (-42.2 vs -42.9), suggesting the business climate remained worse than normal.