Coronavirus/Covid-19 Information & Updates for Manufacturers

NYS Manufacturing Stabilizes


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.