For the fifth time in the last seven months, conditions for NYS manufacturers improved modestly in July up two points to 9.5, the Index’s highest reading since February, according to the Empire State Manufacturing Survey published by the Federal Reserve Board of New York. The Index has moved in a relatively narrow 20 point range since mid-2012, between mild growth and mild contraction, compared to the period from 2008-2012 which saw 30-60 point swings during the year.
The New Orders Index was up 10 points while the Shipments Index was up 21 points, with both crossing into positive or “growth” territory. The Inventories Index showed mild contraction. The six-month outlook also improved. Click here for the full report.
