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NY Fed Business Leaders Survey

US
NY Fed reports activity in the region’s service sector declined for a third consecutive month: declined six points to -17.6.
  • The business climate index moved down three points to -46.2, suggesting respondents viewed the business climate as much worse than normal.
  • Employment growth slowed noticeably.
  • The wages index, while still elevated, continued to edge lower, a sign that wage growth moderated. The pace of price increases slowed significantly. Looking ahead, firms remained pessimistic about the six-month outlook.

NY Federal Reserve/MNI

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