Economy
July 15, 2020
Empire State Manufacturing Index Rises from Contraction
Written by Sandy Williams
New Yorkers received some respite in the manufacturing sector on Wednesday. The headline general business index of the Empire State Manufacturing Survey rose to 17.2 in July for its first positive reading since February. The index rose 17.4 points from -0.2 in February with 41 percent of respondents reporting improved business conditions during the month.
New orders and shipments saw index readings jump roughly 15 points to 13.9 and 18.5, respectively. Unfilled orders were unchanged and delivery times were slightly longer. The inventory index fell 9.1 points to -9.7.
