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Business Leaders Survey | November 2020

Summary:
Activity in the region’s service sector declined at a faster pace than in recent months, according to firms responding to the Federal Reserve Bank of New York’s November 2020 Business Leaders Survey → nyfed.org/BLS. The survey’s headline business activity index fell eleven points to -15.8, its lowest level since August. The business climate index was little changed at -63.1, indicating that the vast majority of firms continued to view the business climate as worse than normal. Employment levels were little changed, and wages increased. Input prices increased at about the same pace as last month, while selling prices held steady. Capital spending fell for an eighth consecutive month. Looking ahead, firms did not expect business conditions to improve, on net, over the next six months.

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Activity in the region’s service sector declined at a faster pace than in recent months, according to firms responding to the Federal Reserve Bank of New York’s November 2020 Business Leaders Survey → nyfed.org/BLS. The survey’s headline business activity index fell eleven points to -15.8, its lowest level since August. The business climate index was little changed at -63.1, indicating that the vast majority of firms continued to view the business climate as worse than normal. Employment levels were little changed, and wages increased. Input prices increased at about the same pace as last month, while selling prices held steady. Capital spending fell for an eighth consecutive month. Looking ahead, firms did not expect business conditions to improve, on net, over the next six months. Business Leaders Survey | November 2020
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