After jumping over 17 points in July, the NY Federal Reserve’s Empire State Manufacturing Survey for August remained “in the black” but dropped -13.5 points to 3.7 signaling slower growth for NYS manufacturers (a reading above 0 is indicative of expansion). Although NYS is currently managing the Coronavirus/Covid19 pandemic and continuing its reopening, every constituent of the survey slowed this month, except Prices Paid (+1.1 to 16.0), Prices Received (+9.2 to 4.7) and Number of Employees (+2.0 to 2.4). See the full report here.
