NY Federal Reserve January Report: Service Sector Business Declines & Price Increases Slowed

The New York Federal Reserve completed its survey of business sector executives for January.  According to the January survey:

"Business activity continued to decline significantly in the region’s service sector in January, according to firms responding to the Federal Reserve Bank of New York’s Business Leaders Survey.  The survey’s headline business activity index edged up four points but remained negative at -16.1.  The business climate index held well below zero at -34.4, suggesting the business climate remained worse than normal.  Employment fell for a fifth consecutive month, and wage growth picked up but remained modest.  Supply availability was little changed.  Both input price increases and selling price increases slowed.  Looking ahead, firms expect conditions over the next six months to improve only modestly."

The federal reserve reports contain a significant amount of economic data for the state.  It can help you plan your sales strategy. 

You can access the January report here.