Empire State Manufacturing Survey Shows Growth in July

The July 2014 Empire State Manufacturing Survey indicates that business conditions improved significantly for a third consecutive month for New York manufacturers.

  • The headline general business conditions index climbed six points to 25.6, its highest level in more than four years.
  • The new orders index was little changed at 18.8, while the shipments index rose nine points to 23.6; both indexes were at multiyear highs.
  • The unfilled orders index fell six points to -6.8.
  • The indexes for both prices paid and prices received were higher this month, indicating a pickup in the pace of price increases.
  • Labor market conditions continued to improve, with indexes pointing to a solid increase in employment levels and a slight increase in hours worked. Although many of the indexes for the six-month outlook were significantly lower, conditions overall were expected to continue improving in the months ahead.