Live Updates > Live Update Details
2025-12-16 21:53:05
[Services Activity in the New York Area Continues to Contract in December] ⑴ The New York Fed's General Business Activity Index rose to -20.0 in December from -21.7 in November. Despite the rebound, the reading indicates that services sector business activity in the region continued to decline significantly in December. ⑵ Employment declined for the fourth consecutive month (-7.4, previous -8.6), while wage growth remained moderate (23.7, previous 25.4). Supply availability improved slightly (-7.4, previous -11.1). ⑶ Input prices (72.1, previous 61.9) and sales prices (30.5, previous 20.1) both accelerated. ⑷ Meanwhile, businesses expect no significant improvement in conditions over the next few months. The Business Climate Index slipped slightly to -44.2 (previous -42.2), indicating that the business environment remains worse than normal.
