New York Manufactures Forecast Continued Growth
Each month the Federal Reserve Bank of New York distributes the Empire State Manufacturing Survey to about 200 manufacturing companies throughout New York State to analyze industry performance. Around 100 of the 200 companies contacted complete the questionnaire, which asks them to report on specific performance indicators and offer their projections for the upcoming months. The respondents are from diverse sectors of the manufacturing industry, providing an unbiased and accurate pool of feedback. Since the start of 2016 these surveys have generated consistently positive results.
The July 2018 results indicate that business activity continues to grow at a steady pace throughout the state. Labor market indicators point to sturdy growth, and the prices received index signals continued moderate increases in selling prices. The headline general business conditions index also still remains at a high level. These results are promising, and the positive forecasts coming from these companies suggest that robust growth is likely in store for the near future.
You can see the full report with survey results here.
