October New York Fed Services Index Falls Sharply

08:37 AM EDT, 10/16/2026 (MT Newswires) -- The New York Federal Reserve's services index fell to minus 20.7 in October from minus 8.7 in September, compared with an expected increase to a reading of minus 4.1 in a survey compiled by Bloomberg. The index is the first services sector reading for October and suggests widespread contraction. The reading for wages decreased in the month while those for business climate and employment increased. The prices paid measure also increased to 70.0 from 69.0 in the previous month, indicating significant price appreciation.