The New York region's service sector activity "expanded moderately," according to the Federal Reserve Bank of New York's July Business Leaders Survey, released Thursday.
The business activity index slid to 10.95 from 11.19 in June, the business climate index narrowed to negative 7.30 from negative 12.59, the employment index fell to 16.91 from 23.48, the wages index slipped to 34.56 from 37.59, the prices paid index declined to 44.12 from 48.51, the prices received index decreased to 11.85 from 13.53, and the capital spending index slipped to 8.96 from 9.85.
The future business activity index gained to 31.85 from 28.99 in June, the business climate index slumped to 16.30 from 20.15, the employment index dipped to 20.47 from 20.93, the wages index increased to 46.46 from 37.21, the prices paid index grew to 48.44 from 42.97, the prices received index held at 20.19, and the capital spending index decreased to 13.39 from 19.20.
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.
