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NY Fed Business Leaders Survey

US
Excerpt from NY Fed's monthly survey of service firms in New York State, northern New Jersey and southwestern Connecticut for April:
  • Business activity expanded in the region's service sector for the first time since the pandemic began. The survey's headline business activity index surged thirty-five points to 30.2.
  • The business climate index increased twenty-five points to -25.6, indicating that firms continued to view the business climate as worse than normal, but much less extensively than in recent months.
  • Employment levels moved higher for the first time in over a year, and wages continued to increase moderately.
  • Input price increases remained significant in April, and selling price increases picked up yet again.
  • Capital spending leveled off after falling for the prior twelve months, and capital spending plans over the next six months picked up.
  • Looking ahead, firms expressed widespread optimism that conditions would improve, with the future employment index reaching a record high.

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