Economy
June 17, 2019
New York Manufacturing Plummets in June
Written by Sandy Williams
The Empire State Manufacturing Index plunged 26 points in June to register -8.6 for its first negative reading in two years. Manufacturing growth in New York did an about face from May’s six-month high with the new orders index plummeting 22 points and shipments 7 points. The employment index fell to -3.5, while the average workweek length index slid to -2.2.
Backlogs declined, delivery times were shorter and inventories moved lower, said the Federal Reserve Bank of New York.
