Manufacturing Outlook in New York State at Highest Since 2022, Fed Data Shows

Companies across the state of New York are becoming more optimistic about their outlook, even as manufacturing stayed in contraction in June, according to the Empire State Manufacturing Survey released Monday morning.

The general business conditions index was at -6, better than the -15.6 recorded in May, data released by the Federal Reserve Bank of New York Monday showed. Expectations six months ahead were at 30.1, climbing from 14.5 a month earlier to reach the highest since early 2022, according to the data.

Still, employment levels and hours worked continued to slip in the state, The outlook for growth in employment remained weak as capital spending plans still appeared sluggish, according to the report.