The New York region's service sector activity "was flat," according to the Federal Reserve Bank of New York's April Business Leaders Survey, released Monday.
The business activity index slid to 1.50 in April from 12.59 in March, the business climate index widened to negative 18.66 from negative 10.14, the employment index fell to 8.21 from 14.81, the wages index climbed to 35.82 from 35.56, the prices paid index declined to 32.84 from 39.26, the prices received index decreased to 3.05 from 13.43, and the capital spending index climbed to 7.52 from 6.02.
The future business activity index dropped to 30.08 in April from 31.62 in March, the business climate index slipped to 12.12 from 15.33, the employment index grew to 25.98 from 20.15, the wages index increased to 49.22 from 44.36, the prices paid index rose to 43.31 from 42.42, the prices received index declined to 17.46 from 18.66, and the capital spending index gained to 28.57 from 21.64.
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.
