The New York region's service sector activity "expanded following a pause in February and March," according to the Federal Reserve Bank of New York's April Business Leaders Survey, released Thursday.
The business activity index rose to positive 10.77 from negative 0.73 in March, the business climate index narrowed to negative 6.87 from negative 13.24, the employment index slid to 11.02 from 15.44, the wages index dropped to 29.69 from 41.91, the prices paid index dipped to 41.09 from 41.18, the prices received index decreased to 8.59 from 11.85, and the capital spending index slipped to 11.02 from 12.59.
The future business activity index fell to 40.00 from 54.01 in March, the business climate index slumped to 27.48 from 35.04, the employment index grew to 34.96 from 32.81, the wages index declined to 46.34 from 49.23, the prices paid index slid to 44.72 from 52.71, the prices received index inched down to 27.05 from 27.69, and the capital spending index decreased to 20.66 from 24.62.
Respondents to the Business Leaders Survey, which the Fed calls "a close cousin of our Empire State Manufacturing Survey," come from New York, northern New Jersey, and southwestern Connecticut.
