LOCAL MANUFACTURING INDEX DIPS

The National Association of Purchasing Management’s PMI (Purchasing Managers Index) for Buffalo released on March 19th, dropped 1.9 points in February to 49.4, indicating stagnant manufacturing activity (this is a diffusion index with values >50 indicating expansion while values <50 indicate contraction). Coming on the heels of this month’s Empire State Manufacturing Survey, which signaled little to no growth, it paints a picture of flat manufacturing activity in WNY and in NYS as a whole. Professor Jay Walker who assembles the PMI in Buffalo wrote, “I don’t feel as if these results signal a large shift toward decreasing activity…” See the full report here.

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