The Federal Reserve Bank of New York has released its December report on the state’s manufacturing industry, and it shows good news for manufacturers.
Manufacturing firms in New York State reported that business activity continued to expand strongly. The general business conditions index was little changed at 18.0. Thirty-seven percent of respondents reported that conditions had improved over the month, while 19 percent reported that conditions had worsened. The new orders index held steady at 19.5, and the shipments index rose four points to 22.4—readings that indicated ongoing solid growth in orders and shipments. The unfilled orders index moved down four points to -8.7, reflecting a decline in unfilled orders. The delivery time index climbed into positive territory, indicating that delivery times lengthened, and the inventories index fell to 1.4, a sign that inventory levels were steady.