Coronavirus/Covid-19 Information & Updates for Manufacturers

NYS Manufacturing Stabilizes

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The NY Federal Reserve’s Empire State Manufacturing Survey indicated that statewide manufacturing “activity held steady in June after deteriorating sharply over the prior two months.”  The index climbed +48.3 points, its largest-ever one-month increase, to -0.2 (a reading above 0.0 is consistent with expansion).  The rebound was led by Shipments (up +42.3 to +3.3) and New Orders (up +41.8 to -0.6).  Approximately 36% of NYS manufacturers reported that conditions improved in June, 36% reported conditions worsened, while the remainder indicated conditions were relatively unchanged.  Manufacturers were much more optimistic about the future, pushing the index for future business conditions up +27.0 points to +56.5, its highest reading since October 2009.  See the full report here.

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