Recent survey results from both the Institute of Supply Management – Buffalo (ISM) and the Empire State Manufacturing Survey (ESMS) indicate that manufacturing continues to expand in Buffalo and statewide, albeit at a slower pace than last month. The ISM indicated growth for the fifth month in a row in our area, although the index fell to 58.4 from 69.9 (a reading above 50.0 indicates expansion).
The ESMS came in at 16.4, down from a multi-year high of 18.7 last month, but still positive (a reading above 0.0 indicates growth). The New Order component registered 21.3, its highest reading in over 5 years, indicating that new orders were up substantially for manufacturers statewide.
