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Manufacturing activity rebounds in February.

Byline: Velvet Spicer

Manufacturing activity across New York grew modestly in February, the latest Empire State Manufacturing Survey shows.

The headline general business conditions index moved up 5 points to 8.8, following a drop of eight points in January. Still, growth was at a significantly slower pace than last year. Some 32 percent of respondents to the monthly survey reported that conditions had improved over the month.

Employment growth among manufacturers this month fell for the second consecutive month, declining 3 points to 4.1. New orders and shipments increased modestly in February, while inventories held steady.

The prices paid fell for a third consecutive month, indicating an ongoing deceleration in input price increases, while the prices received index climbed 10 points to reach its highest level in several months.

Manufacturing firms were more optimistic about the six-month outlook in February compared with January. The index for future business conditions rose 15 points to 32.3, while the indexes for future new orders and shipments climbed to similar levels. Manufacturing firms expect employment and hours worked to increase at a solid pace in the coming months. / 585-653-4021

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Publication:Rochester Business Journal
Date:Feb 18, 2019
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