The New York region's service sector increased in June, according to the Federal Reserve Bank of New York's Business Leaders Survey, released Friday.
The business activity index grew to 16.80 from 5.47 in May, the business climate index narrowed to negative 9.45 from negative 10.85, the employment index slid to 12.60 from 16.41, the wages index climbed to 33.07 from 32.03, the prices paid index fell to 53.97 from 54.69, the prices received index decreased to 13.49 from 19.05, and the capital spending index jumped to 20.80 from 9.45.
The future business activity index dipped to 42.86 from 42.97 in May, the business climate index slipped to 21.88 from 33.33, the employment index dipped to 28.69 from 29.75, the wages index fell to 37.70 from 38.84, the prices paid index declined to 54.10 from 59.50, the prices received index slid to 25.00 from 34.17, and the capital spending index decreased to 17.89 from 25.00.
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.
