Empire State Manufacturing Index Growth Rate Slows in October

Manufacturing growth in the state of New York grew at a noticeably lower rate in October compared to September, according to the Empire State Manufacturing Survey. The headline general business conditions index fell nearly 15 points to 19.8 during the month.

After climbing by 16 points in September, the headline index nearly lost all the ground it had gained. Despite the decrease month on month, manufacturing activity still grew at a solid clip in New York in October. Indices for new orders expanded by 23.3 points this month, down 9.4 from the prior month, while shipments grew by 8.9 points in October, 18.0 points lower than September.

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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