News

Manufacturing Activity in New York State Holds Steady in July

1 Mins read

According to data from the Federal Reserve Bank of New York, manufacturing activity in New York state remained unchanged in July, following a slight increase the previous month. The Empire State Manufacturing Survey’s general business conditions index dropped six points to 1.1 from 6.6 in June, which was lower than the expected flat index of 0.

Little Change in Activity and Declining Inventories

The index suggests that manufacturing activity saw little change in July, with delivery times continuing to shorten and inventories steadily declining. While 29% of the surveyed firms reported improved conditions compared to the previous month, 27% stated that conditions worsened.

Mixed Results for New Orders and Shipments

New orders experienced a slight increase, while shipments fell nearly nine points. The new orders index remained relatively unchanged at 3.3 compared to 3.1 in the previous month. Shipments, on the other hand, decreased to 13.4 from 22 in June.

Employment Levels and Prices

Employment levels showed a slight improvement, with the number of employees index entering positive territory for the first time since January. However, there was little change in the number of hours worked. The price paid index slightly declined to 16.7 from 22 in June, while the price received index fell to 3.9 from 9 the month before.

Future Expectations

Firms in the area have a positive outlook for the future, although the index for future business conditions decreased slightly from the previous month. New orders and shipments are expected to increase modestly, and delivery times are anticipated to continue shortening. However, capital spending plans are likely to remain soft.

Related posts
News

Cement titans record N1.53trn revenue boost amid FX stability,

2 Mins read
Nigeria’s cement industry has kicked off 2025 on a high note, recording a combined revenue surge of N1.53 trillion in the first…
News

Above Food Ingredients Inc. Files Financial Results for the Six-Month Period Ended July 31, 2024

6 Mins read
Regina, Saskatchewan–(Newsfile Corp. – April 28, 2025) – Above Food Ingredients Inc. (NASDAQ: ABVE) (“Above Food” and the “Company”) today released its…
News

Russian Governor: Gas Solution May Solve Bitcoin Mining Woes

2 Mins read
A Russian provincial governor has claimed that associated gas produced at oil drilling sites could provide a solution to ongoing Bitcoin mining-related…

Leave a Reply

Your email address will not be published. Required fields are marked *