Manufacturing activity across NYS “held steady” according to the July Empire State Manufacturing Survey conducted by the Federal Reserve Bank of New York. Their business conditions index registered 1.1, a decrease of -5.5 points from 6.6 in June, however it’s the first back-to-back months above 0.0 since late 2021 (a reading above 0.0 is consistent with expansion). Input Prices and Prices Paid continued to moderate suggesting that inflation may be slowing. See the full report here.
