Economy
May 17, 2017
Empire State Manufacturing Index Now Negative
Written by Sandy Williams
Manufacturing conditions deteriorated in New York State in May according to the latest Empire State Manufacturing Survey. The general business conditions index slid six points to -1.0. The index is now down 19 points since its February high of 18.7. Economists were expecting the headline index to come in at a positive 7.0 for the month.
New orders and shipments both declined with index readings of -4.4 and 10.6, respectively. The unfilled orders index plummeted 16 points to -3.7; the delivery time index fell nine points to 6.7 indicating a slower pace of increase in delivery times.
