The Empire State Manufacturing Survey general business-conditions index slipped into negative territory in August, declining 5 points to -4.2.
A negative reading indicates a decline in manufacturing activity, while a positive reading on the index signals expansion or growth in the sector, the Federal Reserve Bank of New York said in a news release issued Monday.
The survey found that 26 percent of respondents reported that conditions had improved over the month, while 30 percent reported that conditions had worsened.
(Sponsored)
Final Regulations for the Advanced Manufacturing Production Credit
The IRS recently issued final regulations for the Section 45X Advanced Manufacturing Production Credit, clarifying and expanding key provisions from the proposed regulations released in late 2023. These updates are
Assessing the Likely Tax Impacts of the 2024 Election
President-Elect Donald Trump will return to the White House in 2025 — a year that already was expected to see significant activity on the federal tax front. A projected unified
The survey’s new-orders index remained near zero, a sign that orders were “little changed,” while the shipments index climbed eight points to 9.0, indicating that shipments “rose,” the New York Fed said.
Labor-market indicators pointed to “little change” in employment levels and hours worked.
The prices-paid index edged down to 15.5, suggesting that input price increases remained “moderate,” and at 2.1, the prices-received index reflected a “minute” increase in selling prices.
Forward-looking indicators suggested that firms expected conditions to improve over the next six months, although the level of optimism diminished for a second straight month.
The New York Fed distributes the Empire State Manufacturing Survey on the first day of each month to the same pool of about 200 manufacturing executives in New York. On average, about 100 executives return responses.
Contact Reinhardt at ereinhardt@cnybj.com
