Empire State Manufacturing Index Falls in March

Business activity in the state of New York waned in March, declining for the first time since the onset of the global pandemic nearly two years ago, according to the Empire State Manufacturing Survey.

New York The headline general business conditions index is now at -11.8 (above the neutral mark of 0), falling 15 points from February’s 3.1, and the lowest reading since May 2020. New orders and shipments declined modestly, delivery times lengthened substantially, while unfilled orders and inventories expanded.

Manufacturing

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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