The New York region's service sector activity" showed little change," according to the Federal Reserve Bank of New York's July Business Leaders Survey, released Tuesday.

The business activity index fell to negative 0.7 in July from positive 3.4 in June, the business climate index narrowed to negative 13.2 from negative 15.5, the number of employees index grew to 9.6 from 2.7, the wages index gained to 32.4 from 27.5, the prices paid index climbed to 38.4 from 36.2, the prices received index increased to 10.3 from 8.8, and the capital spending index fell to 11.2 from 13.4.

The future business activity index slid to 28.4 in July from 31.6 in June, the business climate index decreased to 16.1 from 16.7, the number of employees index dropped to 12.6 from 26.5, the wages index dipped to 38.5 from 40.1, the prices paid index rose to 44.4 from 41.7, the prices received index declined to 17.6 from 20.8, and the capital spending index fell to 14.6 from 20.4.

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.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.