The Empire State Manufacturing Survey index registered 17.7 for January 2018, its highest January reading since 2004, indicating manufacturing expansion in New York State. Although the index is down 1.9 points from December, it continues a steady uptrend that began after January 2016’s seven-year low of -16.9. A reading above zero indicates expansion while below zero indicates contraction. Constituent indices for New Orders, Shipments, Delivery Times and Number of Employees also cooled, although all remain in growth mode. NYS manufacturers remained optimistic as the Six-Month Outlook increased to 48.6, close to its five-year high of 49.8 from November 2017.
