The Empire State Manufacturing Survey consists of a series of diffusion indices distilled from a monthly survey of New York regional manufacturing executives and seeks to identify trends across 22 different current and future manufacturing related activities.Today’s report indicated continued expansion though at a notably slower rate than at the start of the year with the current business conditions index inching up slightly to 7.10 while the future conditions index declined to 35.71.
Current and future new orders continued to decline with current orders registering a -2.71, the first sign of contraction since June 2009, while future new orders declined to 31.43 also markedly slower than prior months.
