Empire State manufacturing index unexpectedly weakens

Business activity across New York State's manufacturing region unexpectedly declined, according to a closely followed survey on Monday by the New York Federal Reserve, as new orders and shipments both fell sharply.

Source: Sharecast

The headline general business conditions index of the Empire State Manufacturing Survey sank 21 points to -8.7 in September, marking its first negative reading since June.

This was down from 11.9 in August and below the consensus forecast of 5.0, marking the sixth time in nine months that activity has contracted so far this year.

The new orders index dropped 35 points to -19.6, while the shipments indicator fell 30 points to -17.3, with both measures hitting their lowest since April 2024.

The employees indicator came in at around zero, suggesting that employment was little changed after three straight months of gains, while the future employment index also fell to near zero.

“Manufacturing activity declined modestly in New York State in September, with the survey’s headline index turning negative on the heels of positive readings over the summer," said Richard Deitz, economic research adviser at the New York Fed.

"Optimism about the outlook remained muted and employment levels are expected to be flat over the next six months."

Transferring your account

Transfer your existing ISAs and Share Dealing Accounts and you could save money. In order to transfer, log in to your existing account and complete the online application form. We’ll do the rest for you. It’s free to transfer (we will not charge you). Please check your current provider to see if they have any charges for transferring.

Transfer to us

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Bank of Scotland is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.