United States NY Empire State Manufacturing Index

Last Release

Jul 31, 2024

Actual

-6.6

Units In

Points

-6

Frequency

Monthly

Next Release

Aug 15, 2024

Time to Release

30 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
43 Jul 2021	-78.2 Apr 2020	6.76 Points	2001-2024	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 NY Empire State Manufacturing Index declined to -6.6 in July 2024, slightly below market expectations of -6. New orders remained stable, while shipments saw a slight increase. Delivery times improved and supply availability stayed the same. Inventories decreased, reflecting ongoing challenges. The labor market remained weak, with employment on the decline. Input prices rose modestly, while selling prices saw only minor increases. Despite current conditions, firms expressed optimism for future improvement. Richard Deitz, Economic Research Advisor at the New York Fed, noted that manufacturing in the state showed sluggishness in July, yet there were positive signs with steady orders and increased shipments. However, challenges persisted with weak employment and capital spending plans. Despite this, there was optimism for better conditions ahead.