Business activity held steady in New York State, according to firms responding to the July 2023 Empire State Manufacturing Survey. The headline general business conditions index fell six points to 1.1. New orders inched up and shipments expanded. Delivery times shortened and inventories continued to decline. Employment levels edged higher, though the average workweek was little changed. Input and selling price increases continued to moderate. Planned increases in capital spending remained weak. Looking ahead, while firms expect conditions to improve, optimism remained muted. Manufacturing activity was little changed ... (full story)