Economy
August 15, 2014
Empire State Manufacturing Index Dips in August
Written by Sandy Williams
Current manufacturing conditions in New York slipped in August according to the latest Empire State Manufacturing Index. The headline index for general business conditions dropped 11 points to register 14.7 after reaching a four year high of 25.6 in July. The survey still indicates manufacturing growth but not as widespread as previously, said the Federal Reserve Bank of New York.
The index for new orders decreased by five points to 14.1 in August, while the shipments index rose one point to 24.6. Unfilled orders were down one point to -8.0 indicating a decrease in backlogs. Inventories were leaner as evidenced by an 11 point drop to -14.8 for the inventory index.
