Impact of New York State's Empire State Factory Gauge Weakening in May
Wednesday, 15 May 2024, 12:30
Empire State Manufacturing Index Declines
The New York Fed's Empire State business conditions index dropped by 1.3 points in May, reaching a negative 15.6, indicating a weakening manufacturing environment.
Implications for the State
- Cautious Outlook: The decline in the index suggests potential challenges for the manufacturing sector in New York.
In summary, the Empire State factory gauge in New York showed a further weakening in May, with the negative trend highlighting concerns for the manufacturing industry within the state.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.