{
  "id": "397720",
  "title": "NY Fed Services Activity Index",
  "parent_publication": "Business Leaders Survey",
  "country": "US",
  "institution": "Federal Reserve Bank of New York",
  "source_url": "https://www.newyorkfed.org/survey/business_leaders/bls_overview",
  "document_url": "https://www.newyorkfed.org/medialibrary/media/survey/business_leaders/2026/2026_03blsreport.pdf",
  "document_type": "pdf",
  "period": "March 2026",
  "reference_date": "2026-03-31T00:00:00Z",
  "release_date": "2026-03-17T12:30:00Z",
  "survey_period": "2026-03-02 to 2026-03-09",
  "geography": "New York, Northern New Jersey, Southwestern Connecticut",
  "respondent_type": "Service sector business executives",
  "sample_size": 200,
  "indicators": [
    {
      "name": "Business Activity Index",
      "actual": -22.6,
      "previous": -25.7,
      "unit": "index"
    },
    {
      "name": "Business Climate Index",
      "actual": -46.2,
      "previous": -41.7,
      "unit": "index"
    },
    {
      "name": "Employment Index",
      "actual": -8.5,
      "previous": -9.7,
      "unit": "index"
    },
    {
      "name": "Wages Index",
      "actual": 33.7,
      "previous": 37.4,
      "unit": "index"
    },
    {
      "name": "Prices Paid Index",
      "actual": 62.5,
      "previous": 62.6,
      "unit": "index"
    },
    {
      "name": "Prices Received Index",
      "actual": 28.8,
      "previous": 29.9,
      "unit": "index"
    },
    {
      "name": "Capital Spending Index",
      "actual": -2.5,
      "previous": -7.8,
      "unit": "index"
    },
    {
      "name": "Supply Availability Index",
      "actual": -12.6,
      "previous": -9.2,
      "unit": "index"
    }
  ],
  "key_findings": [
    "Business activity declined significantly in March (-22.6)",
    "Business climate index fell 4.5 points to -46.2",
    "Employment fell for seventh consecutive month",
    "Supply availability worsened (index -12.6)",
    "Firms expect only modest pickup in activity over next 6 months"
  ],
  "artifacts": {
    "raw_file": "research_output/raw/397720.pdf",
    "result_md": "research_output/results/397720_result.md",
    "meta_file": "research_output/meta/397720.json"
  },
  "retrieval_metadata": {
    "date_retrieved": "2026-03-17",
    "search_method": "Direct NY Fed BLS page + PDF download",
    "verification": "Title, numbers, and indicators match source payload"
  }
}