New York Manufacturing Activity Sees Growth In September

According to Odaily, business activity in New York State has shown growth for the first time in nearly a year, based on responses to the September 2024 manufacturing survey. The New York Federal Reserve's manufacturing index for September recorded a value of 11.5. The survey indicates that new orders have increased, shipments have grown significantly, delivery times and supply have stabilized, and inventories have remained steady. However, the labor market conditions remain weak, with employment continuing to contract moderately and average weekly working hours staying stable. The pace of increase in input and selling prices has seen little change. Despite the capital expenditure index dropping below zero for the first time since 2020, businesses have become more optimistic about the outlook for the coming months.