New York State manufacturing activity grew “strongly” according to the November Empire State Manufacturing Survey conducted by the Federal Reserve Bank of NY. The general business conditions index was up 11.1 points to 30.9 (a reading above 0.0 indicates growth) with gains in New Orders, Shipments and Employment. However, Prices Paid, Prices Received and Delivery Times were at or near all-time highs indicating continued supply chain pressures. These factors may explain a 15.1 point drop in the future business conditions index which projects six months from now. See the full report here.
