Economy
November 15, 2016
Empire State Index Points to Flat November for NY Manufacturing
Written by Sandy Williams
Business activity stabilized in New York State according to the November 2016 Empire State Manufacturing Survey. The index rose eight points to a reading of 1.5, bringing the index out of contraction for the first time in four months but leaving manufacturing relatively flat for the month.
New orders and shipments picked up and indices were positive with readings of 3.1 and 8.5, respectively. The unfilled orders index dropped to -12.7 and delivery times shortened. Inventory levels dropped sharply as evidenced by an 11 point decline to -23.6 for a multi-year low.
