New York Business Activity Continues To Grow

New York, NY, Jan. 17, 2017 -- Business activity continued to grow modestly in New York State, according to firms responding to the January 2017 Empire State Manufacturing Survey.

The headline general business conditions index was little changed at 6.5. The new
orders index fell to 3.1, pointing to a small increase in orders, and the shipments
index held steady at 7.3.

Inventories edged higher for the first time in more than a year. Labor market conditions remained weak, though less so than in recent months, with manufacturers reporting a slight decline in employment and somewhat shorter workweeks.

Indexes for the six-month outlook suggested that respondents remained very optimistic about future conditions.