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2025-09-15 20:39:44
New York State Manufacturing Index Falls to -8.7 in September, Hitting a Three-Month Low] ⑴ The New York Federal Reserve's manufacturing index fell to -8.7 in September, down from 11.9 in the previous month, well below market expectations of 5 and hitting a three-month low. ⑵ Sharp declines in new orders (-19.6 vs. 15.4 in the previous month) and shipments (-17.3 vs. 12.2) indicate a modest contraction in manufacturing activity. ⑶ Delivery times remained stable (0.0 vs. 17.4), while backlogs deteriorated slightly (-6.9 vs. -5.5). ⑷ Inventories declined for the second consecutive month (-4.9 vs. -6.4), employment remained stable (-1.2 vs. 4.4), and average hours worked decreased slightly (-5.1 vs. 0.2). ⑸ Input price inflation remained elevated (46.1 vs. 54.1), while factory-gate price inflation remained moderate (21.6 vs. 22.9). Richard Diaz, economic research advisor at the New York Fed, said: "Business optimism about the outlook remains low, and employment levels are expected to remain stable over the next six months."
