Economy
March 16, 2020
Empire State Manufacturing Index Plummets on Coronavirus Concerns
Written by Sandy Williams
The Empire State Manufacturing Index plummeted 34 points in March to register -21.5, its steepest point drop on record and its lowest level since 2009. Forty-two percent of New York manufacturers surveyed reported that business conditions had worsened during the period.
The new orders index tumbled 31 points to -9.3 while shipments fell 20.6 points to -1.7. Delivery times were somewhat longer in March and inventories slightly higher.
