Economy
March 16, 2021
Empire State Manufacturing Activity Expands
Written by Sandy Williams
Business activity in New York State grew significantly in March, according to the New York Fed’s Empire State Manufacturing Survey. The general business index rose five points to 17.4, its highest level since July 2020. New orders increased slightly during the month, but shipments soared 17 points to an index reading of 21.1.
Inventories were slightly higher and delivery times continued to lengthen in March. Input prices rose at their fastest pace in almost a decade and selling prices remained near last month’s two-year high.
