Economy
November 16, 2020
New York Manufacturing Growth Slows in November
Written by Sandy Williams
Manufacturing activity expanded only slightly in New York during November, says the New York Federal Reserve. The Empire State Manufacturing Survey general business index fell four points to 6.3 indicating slowing growth in the region and widely missing analyst estimates of 13.5. Thirty-one percent of survey respondents reported that business conditions had improved, compared to 24 percent who reported that conditions had worsened.
The new orders index fell nine points to 3.7, while shipments dropped 12 points to 6.3. Any reading above zero indicates growth. Inventories continued to decline and delivery times were mostly unchanged.
