“Business conditions improved significantly…for New York State manufacturers” for the third month in a row according to the July 2014 Empire State Manufacturing Survey. The Business Conditions Index increased 6 points to hit a multi-year high as did many of its constituent parts, including new orders and shipments. Manufacturing employment also improved. Tempering these figures were indications of inflationary pressures in the form of Increases in prices paid and prices received, as well as a decrease in future (six months out) optimism. In particular, the future Capital Expenditures Index was down for the third month in a row. See the full report here.