The latest mergers & acquisitions figures are out, and they’re not pretty.
According to mergermarket, an M&A data watcher, the year’s global slowdown is not only continuing but accelerating. New York can hang on to a thread of good news only in that its rate of decline is not accelerating.
During the first three quarters of this year (which ended Sunday), global M&A activity was down 19.4 percent relative to the same period in 2011, but in the third quarter alone, activity was down 20.2 percent.
America and Europe shared the biggest declines, although their fates diverged in favor of New York in the last three months.
European M&A is down 23.2 percent year-to-date, while American M&A is down 23.1 percent.
For just the last quarter, though, American activity fell just 9.6 percent, while European activity fell a whopping 40 percent.
Energy & mining dominated both region’s charts.
The continued decline isn’t good news for New York’s budget. According to the city’s latest economic stats, financial-industry wages (and bonuses) totaled $84.8 billion last year, or 28.9 percent of $293.2 billion in total wages.