Business activity is expected to increase in New York State in September 2024

Business activity in New York State increased for the first time in nearly a year, according to the September 2024 Empire State Manufacturing Survey. The overall business conditions index rose 16 points to 11.5. New orders and shipments also showed significant increases. Lead times and supply remained stable, with inventories in balance. Labour market conditions remained weak as employment declined moderately and the average working week remained unchanged. Input and selling price growth rates were essentially stagnant.