United States NY Empire State Manufacturing Index

The NY Empire State Manufacturing Index in the US jumped to 7.7 in January 2026 from a revised -3.7 in December, beating forecasts of 1. The reading showed business activity in New York state rose modestly, as new orders increased (6.6 vs -1), and shipments grew at a solid pace (16.3 vs -5). Delivery times were unchanged (0.0 vs -5.9) and inventories edged down (-2.1 vs 4), while supply availability worsened slightly (-4.1 vs -6.9). Employment (-9 vs -7.5) and the average workweek (-5.4 vs 2.5) both declined after increasing over the prior two months. The pace of input price increases was little changed and remained elevated (42.8 vs 44.2), while the pace of selling price increases slowed to its lowest pace in nearly a year (14.4 vs 25.4). Meanwhile, capital spending plans grew modestly for a third consecutive month (10.3 vs 6.9) and firms remained fairly optimistic about the outlook, with half expecting conditions to improve over the next six months.