Manufacturing activity in New York State is expected to decline over the next six months, according to the the New York Fed’s Empire State Manufacturing Survey released on July 15.
Economists rely on the index and other regional manufacturing gauges for an early read on factory activity.
Manufacturing in New York rose a modest 12.3 points to 11.1 in July, after analysts expected a third straight negative growth this month, according to The Wall Street Journal.
However, the index for future business conditions for the next six months plunged 20 points to negative 6.2—a sentiment expressed only three times in the survey’s history (pdf)….