The Empire State Manufacturing Survey for June 2015 fell into negative territory at -1.98 indicating that manufacturing activity declined slightly last month on a statewide basis. The Survey’s readings have oscillated close to zero for three months and is now at its lowest level since early 2013. New Orders, Unfilled Orders and Delivery Time were all negative. The Survey’s Index for Future General Business Conditions, a six-month look ahead, also fell indicated a decrease in optimism from manufacturers for the second consecutive month.
Although these Empire State Manufacturing readings are generally consistent with the national Index of Supply Management (ISM), the Buffalo Niagara area has been bucking this trend. The most recent Buffalo Niagara PMI reading was 61.1 for May, still well into the positive range indicating continued manufacturing growth in our area. See the full Survey here.