Economy
September 15, 2016
Empire State Index in Contraction for 2nd Month
Written by Sandy Williams
The Empire State Manufacturing Index remained below the zero “no growth” level at -2.0 in September for the second consecutive month. Analysts point to weak export orders and sluggish business investment by the manufacturing sector.
New orders dropped eight points to -7.5 and shipments plunged 18 points to -9.4. Indexes for unfilled orders and delivery times remained in contraction. Inventories declined at a faster pace this month, dropping eight points to -12.5. The price indexes were relatively unchanged from August, indicating slight increases for input and selling prices.
