Market Data
May 16, 2023
Empire State Manufacturing Index Plummets
Written by Laura Miller
The latest Empire State Manufacturing Survey shows a steep decline in business activity in the state of New York.
The headline manufacturing general business conditions index from the Federal Reserve Bank of New York fell into the negative, dropping by nearly 43 points to -31.8 in the survey taken between May 2-9. The April index reading is close to January’s reading of -32.9, which was the lowest point since the Covid-19 pandemic.
