The NY Fed’s July 2018 Empire State Manufacturing Survey indicates continued expansion for state manufacturers, albeit at a slightly slower rate than June. The Business Conditions Index came in at 22.6, down 2.4 points, “still a high level, suggesting a continuation of robust growth,” according to the NY Fed. Prices Paid fell 10.0 points to 42.7, still a very high level, while Prices Received eased 1.1 points to 22.2. However, tariff fears seem muted based on the six-month outlook which fell 7.8 points to 31.1, still well above April’s multi-year low of 18.3 after a 26 point plunge that month. See the full report here.
