Empire State Index Declines for Second Month

Written by Brett Linton

The September 2015 Empire State Manufacturing Index declined for the second consecutive month, indicating a slowing in business activity for New York manufacturers.

The general business conditions index declined from -14.9 to -14.7. Prior to August,the index has been hovering around the zero point for four months indicating that business activity has been subdued.

Both the shipments and new orders indexes declined in September as they did in August. The shipments index declined from to -8.0, and the shipments index declined to -12.9. The inventories index declined to -18.5, pointing to a drop in inventory levels. The prices indexes showed a slight increase in input prices and a slight decrease in selling prices.

Employee numbers fell below zero for the first time in over two years, declining eight points to -6.2.

The index for future business conditions declined to 23.2, and indexes for expected new orders and shipments declined to similar levels. The future prices paid and received indexes both decreased.

Below is a graph showing the history of the Empire State Manufacturing Index. You will need to view the graph on our website to use it’s interactive features, you can do so by clicking here. If you need assistance with either logging in or navigating the website, please contact our office at 800-432-3475 or

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