The New York Federal Reserve’s Empire State Manufacturing Survey spiked almost 26 points to an all-time high of 43.0 in July, significantly surpassing expectations (a reading above 0.0 indicates growth in manufacturing activity). Shipments were up 29.6 points to 43.8, New Orders were up 16.9 points to 33.2. Prices Paid remained near record levels, but eased slightly, down 3.0 points to 76.8, while Prices Received climbed 6.1 points to a new record high of 39.4. All this as manufacturers continue to battle workforce and supply chain challenges. See the full report here.
