Economy
February 15, 2016
Empire State Manufacturing Still in Decline
Written by Sandy Williams
Business activity continued to decline for New York manufacturers in the latest Empire State Manufacturing Survey. The general business conditions index picked up 3 points registering -16.6, its seventh consecutive month in contraction. The index was weaker than economist estimates of 10.0 to 10.50.
Most indexes in the survey remained in contraction in February but showed some improvement. The new orders index rose 12 points to -11.6, slowing its downward pace compared to January. Shipments gained 3 points for a reading of -11.6 and delivery times rose 11 points to -2.0.
