The NY Federal Reserve’s Empire State Manufacturing Survey was up 4.9 points to 25.0 indicating faster growth in June and continuing a steady upward trend that began in early 2016. The Forward-Looking Index, which plunged in April, increased for the second month to 38.9 suggesting it has shaken-off trade war fears, if in fact they were the basis for April’s drop. At 52.7, Prices Paid remained at highs not seen in seven years; likewise Prices Paid. Nine years after the end of the Great Recession, the manufacturing economy in NY continues to perform well. See the full report here.
