NY Fed Services Survey (Feb): Business activity -25.7 (prev. -16.1), Business Climate -41.7 (prev. -34.4)
The NY Fed Services Survey indicates a notable decline in current business activity and business climate, with both metrics worsening compared to previous readings.
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NY Fed Services Survey (Feb): Business activity -25.7 (prev. -16.1), Business Climate -41.7 (prev. -34.4)
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- Number of employees -9.7 (prev. -5.5)
- Wages: 37.4 (prev. 30.0)
- Prices Paid 62.6 (prev. 63.9)
- Prices Received 29.9 (prev. 27.6)
- Capital Spending -7.8 (prev. -6.1)
- Supply availability -9.2 (prev. -3.2)
Forward Looking, six months
- Business activity 17.5 (prev. 12.4)
- Business climate -3.9 (prev. -6.1)
- Number of employees 15.7 (prev. 16.4)
- Wages 37.7 (prev. 50.5)
- Prices Paid 52.5 (prev. 54.9)
- Prices Received 25.2 (prev. 35.2)
- Capital Spending 6.0 (prev. 5.7)
- Supply availability -3.4 (prev. -3.7)
The decline in the number of employees and capital spending also signals a softening labor market and cautious investment outlook, which could influence market expectations for Fed policy moving forward, particularly concerning growth and inflation dynamics. Notably, the forward-looking indicators show some improvement, suggesting a potential stabilization in the months ahead.
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