Growth of Empire State Manufacturing Index Slows in August

Manufacturing growth in New York State expanded slightly in August but at a far slower rate than the record-setting pace seen the month prior, according to the data collected in the Empire State Manufacturing Survey.

The general business index fell 25 points to 18.3. Indices for new orders and shipments fell by double digits from August, sliding 14.8 points and 4.4 points, respectively. Unfilled orders were slightly higher. Delivery times continued to lengthen, rising by eight points to 28.3. The inventories index dipped 10.0 points. Despite the contraction from record-setting highs in July, August’s indexes remain on a positive growth trajectory.

Manufacturing

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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