United States NY Empire State Manufacturing Index

Last Release

Sep 30, 2025

Actual

-8.7

Units In

Points

11.9

Frequency

Monthly

Next Release

Oct 15, 2025

Time to Release

27 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
43 Jul 2021	-78.2 Apr 2020	6.35 Points	2001-2025	Federal Reserve Bank of New York

New York Empire State Manufacturing Index is based on data compiled from the survey of 200 executives from the companies in the manufacturing sector in the New York State. Participants report the change in 11 indicators including level of general business activity, new orders, shipments, inventories, number of employees, delivery time, capital expenditure from the previous month and the likely direction of these indicators in six months. A reading above 0 indicates manufacturing activity is expanding, below 0 is contracting. .

Latest Updates

The New York Empire State Manufacturing Index fell to -8.7 in September 2025, the lowest in three months, compared to 11.9 in August and forecasts of 5. The reading showed manufacturing activity declined modestly in New York State, as new orders (-19.6 vs 15.4) and shipments (-17.3 vs 12.2) fell sharply. Also, delivery times were steady (0.0 vs 17.4), and unfilled orders worsened somewhat (-6.9 vs -5.5). Inventories edged lower for a second consecutive month (-4.9 vs -6.4) and employment held steady (-1.2 vs 4.4), while the average workweek declined modestly (-5.1 vs 0.2). On the price front, input price increases remained elevated (46.1 vs 54.1) while selling price increases remained moderate (21.6 vs 22.9). "Optimism about the outlook remained muted and employment levels are expected to be flat over the next six months", according to Richard Deitz, Economic Research Advisor at the New York Fed.