Manufacturing activity declined in the New York region, according to companies responding to the local Fed’s Empire State Manufacturing survey in October, with its overall index falling seven points to -4.6.
The index reflects a decline in the general situation of the sector. New orders declined slightly, while shipments were little changed. Order books have shrunk and delivery times have been shortened. Stocks remained stable.
Labor market indicators show a slight increase in employment and average weekly working hours, the survey indicates.
Companies say they remain relatively optimistic about the six-month outlook.
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2023-10-16 12:41:42
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