Economy
May 17, 2022
A Shocker: Empire State Manufacturing Index Falls in May
Written by David Schollaert
Business activity in the state of New York sank in May, a startling result following a strong turnaround in the headline index the month prior, according to the Empire State Manufacturing Survey.
The New York Fed’s Empire State headline general business conditions index – a gauge of manufacturing activity in the state – is now at -11.6, diving well past the forecasted measure of 16.5. The reading was a complete reversal from the 36.4-point surge the month prior.
