The New York region's service sector activity "expanded briskly," according to the Federal Reserve Bank of New York's November Business Leaders Survey, released Tuesday.
The business activity index grew to 17.61 from 10.16 in October, the business climate index narrowed to negative 5.67 from negative 13.95, the employment index slid to 12.86 from 13.28, the wages index climbed to 30.22 from 28.13, the prices paid index fell to 38.13 from 53.13, the prices received index increased to 13.67 from 11.72, and the capital spending index increased to 20.14 from 19.05.
The future business activity index gained to 43.66 from 30.71 in October, the business climate index soared to 30.99 from 10.08, the employment index gained to 31.88 from 30.00, the wages index rose to 48.53 from 42.86, the prices paid index declined to 54.35 from 54.35, the prices received index grew to 21.17 from 20.00, and the capital spending index decreased to 18.52 from 24.17.
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.
