IDEAS home Printed from https://ideas.repec.org/p/fip/fednls/87810.html
   My bibliography  Save this paper

New York Fed Surveys: Business Activity in the Region Sees Historic Plunge in April

Author

Abstract

Indicators of regional business activity plunged to historic lows in early April, as efforts to slow the spread of the coronavirus kept many people at home and shut down large parts of the regional economy, according to the Federal Reserve Bank of New York’s two business surveys. The headline index for both surveys plummeted to nearly -80, well below any historical precedent including the depths of the Great Recession. About 60 percent of service firms and more than half of manufacturers reported at least a partial shutdown of their operations thus far. Layoffs were widespread, with half of all businesses surveyed reporting lower employment levels in early April.

Suggested Citation

  • Jaison R. Abel & Jason Bram & Richard Deitz, 2020. "New York Fed Surveys: Business Activity in the Region Sees Historic Plunge in April," Liberty Street Economics 20200416a, Federal Reserve Bank of New York.
  • Handle: RePEc:fip:fednls:87810
    as

    Download full text from publisher

    File URL: https://libertystreeteconomics.newyorkfed.org/2020/04/new-york-fed-surveys-business-activity-in-the-region-sees-historic-plunge-in-april.html
    File Function: Full text
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Business surveys; coronavirus; regional; COVID-19;
    All these keywords.

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fednls:87810. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/frbnyus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (email available below). General contact details of provider: https://edirc.repec.org/data/frbnyus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.