FX.co ★ NY Services Activity Contracts Further

The Federal Reserve Bank of New York's general business activity index, which assesses economic trends in New York State and segments of New Jersey and Connecticut, saw a modest rise to -20.0 in December 2025, up from -21.7 in November. While there was this slight uptick, the figures continue to indicate a notable decline in business activities within the region's service sector for December. Employment decreased for the fourth consecutive month, recording -7.4 compared to -8.6 previously, and wage growth remained tepid at 23.7, down from 25.4. There was a slight improvement in supply availability, moving from -11.1 to -7.4. Nonetheless, both input prices (rising to 72.1 from 61.9) and selling prices (increasing to 30.5 from 20.1) showed upward movements. Additionally, businesses express limited optimism for significant improvement in the near future. The business climate index dipped slightly to -44.2 from -42.2, signalling that the overall business milieu remains less favorable than usual.