© 2024
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

New York Manufacturing Activity Slows Sharply In July

Manufacturing in New York state grew for a second month in July but at a much slower pace, as new orders and shipments both slipped.

The Federal Reserve Bank of New York says its Empire State manufacturing index dropped to 9.8 from 19.8 in June. Any reading above zero signals expansion.

July's drop comes after the index reached a two-year high in June. Still, the reading is at a mostly healthy level. While the index measures sentiment among New York firms, it is closely followed by economists because it provides an early read on factory output nationwide.

A measure of new orders dropped to 13.3 from 18.1, while a gauge of shipments dropped to 10.5 from 22.3. Hiring also slowed sharply.

© 2017 AP

Dave Lucas is WAMC’s Capital Region Bureau Chief. Born and raised in Albany, he’s been involved in nearly every aspect of local radio since 1981. Before joining WAMC, Dave was a reporter and anchor at WGY in Schenectady. Prior to that he hosted talk shows on WYJB and WROW, including the 1999 series of overnight radio broadcasts tracking the JonBenet Ramsey murder case with a cast of callers and characters from all over the world via the internet. In 2012, Dave received a Communicator Award of Distinction for his WAMC news story "Fail: The NYS Flood Panel," which explores whether the damage from Hurricane Irene and Tropical Storm Lee could have been prevented or at least curbed. Dave began his radio career as a “morning personality” at WABY in Albany.
Related Content