Empire State Manufacturing Report

March Business Conditions in New York State

According to the latest Empire State Manufacturing Survey, business activity across New York State showed minimal movement in March. The main index for general business conditions dropped by seven points, settling at -0.2.

There was a slight uptick in new orders, but shipments experienced a decrease. Unfilled orders saw an increase, delivery times became longer, and supply availability worsened somewhat. Inventory levels rose during the month.

Employment numbers grew modestly, and the average workweek expanded slightly. Although the rate at which input costs increased slowed considerably, it remained high. Meanwhile, selling prices continued to rise at a similar pace as before. Despite these mixed signals, businesses continued to express optimism about the future.