2026.04.1612:36:47UTC+00NY Services Activity Contraction Eases in April

The Federal Reserve Bank of New York’s general business conditions index—which tracks economic activity in New York State as well as parts of New Jersey and Connecticut—rose nine points in April 2026, to -14. While still negative, this reading indicates a smaller contraction than in the previous month. Overall, 24 percent of respondents reported that conditions had improved over the month, whereas 38 percent said conditions had worsened.

The business climate index edged down a further three points to -49.3, signaling that the business environment remained much worse than normal. Employment slipped slightly, and the availability of supplies deteriorated markedly. The pace of input price increases accelerated sharply, while selling prices rose at a more moderate, though still faster, rate.

Looking ahead, firms remain cautious and, on balance, expect little improvement in conditions over the next six months.