Manufacturing activity in New York State expanded notably in July, according to the Empire State Manufacturing Survey. The diffusion index for general business conditions rose to 15.6.
The index remained in positive territory for a fourth straight month after jumping 9.9 points and exceeding the forecast of 9.3. New orders climbed 19 points to 22.2 while shipments increased 16 points to 24.4, reaching a four-year high.
Employment conditions also improved as the index for the number of employees rose two points to 11.4, its highest level since December 2022. The future business conditions index stood at 27.9, with half of respondents expecting higher activity ahead.
The survey results point to marked gains in orders and shipments across the state.
