Ekonomické zprávy

Services sector activity in New York State holds steady in March

The New York Federal Reserve announced on Monday that its latest Business Leaders Survey (BLS) found that services sector activity in New York State, northern New Jersey and southwestern Connecticut was flat in early March.

According to the survey, the BLS’s headline business activity index surged by 7.9 points to 0.6 in March, indicating that business activity in the New York-Northern New Jersey region stabilized after six months of contraction.

Anything below zero signals contraction.

According to the report, the business climate index slipped 2.2 points to -26.4, suggesting that the business climate remains worse than normal. Meanwhile, the employment index increased 1.2 points to 0.6, signalling that employment levels were almost unchanged. The wages index fell 2.9 points to 43.8, indicating that wage growth eased slightly. On the price front, the prices paid index jumped 4.5 points to 55.1 and the prices received index climbed 3.3 points to 27.8, pointing to a modest acceleration in the paces of input and selling price increases.

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