NY Manufacturing Activity Softens in July

The Empire State Manufacturing Index fell 10 points to 9.8 in July, after hitting a two-year high in June. New orders and shipments continued to grow but at a slower pace in New York State, dropping 4.8 points and 11.8 points, respectively.

Delivery times were reported as longer in the July survey and inventory levels were fairly steady. The indexes for prices paid and received were relatively unchanged. The index for unfilled orders fell 9.3 points to -4.7. The employment index dipped for the third month but remained positive at 3.9, indicating a slower expanding workforce.