The general business conditions index from the New York Fed’s Empire State Manufacturing Survey was a reading of +6.29 in September. This is down from August’s figure of +8.24 but is still a greater than zero reading indicating economic expansion in the manufacturing sector, albeit at a slower pace. This is the fourth consecutive month that the index has been in expansion.

September’s index was composed of 26.68% of businesses surveyed responding that business conditions had improved during the month, while 20.39% reported that conditions had worsened.

Empire State Manufacturing Slows in September

The New York Fed was the first of the Federal Reserve banks to release its manufacturing survey for August. Currently, all 5 leading manufacturing surveys conducted by Federal Reserve banks indicate economic expansion in the manufacturing sector.