Service businesses in the New York area reported a sharp drop in activity in October, but they did not cut staff on balance. The Federal Reserve Bank of New York's Business Leaders Survey, released Oct.
Manufacturers in the Philadelphia Federal Reserve's district are still adding workers on balance, but the pace is easing and their hiring plans for the next six months have pulled back sharply. The employment index in the bank's October Manufacturing Business Outlook Survey, released Oct.
Chief executives turned more pessimistic heading into the end of 2026, and slightly more of them now expect to shrink their workforces than a quarter ago.
