Empire State Manufacturing Survey

The latest Empire State¬†Manufacturing Survey from the Federal Reserve Bank of New York has been released. As usual, the report is a bit if a mixed bag. On the bright side,¬†the new orders index climbed to 21.3, its highest level in several years, pointing to a substantial increase in orders. Unfortunately, the unfilled orders index rose to 14.2, its highest level in more than a decade, and delivery times lengthened. We’ve heard similar reports one-on-one from our members, who say that the cause is their inability to find enough skilled workers to fill open positions and shifts.