Business activity declined in New York State, according to firms responding to the August 2023 Empire State Manufacturing Survey. The headline general business conditions index fell twenty points to -19.0. New orders and shipments fell significantly. Delivery times were steady, and inventories moved lower. Labor market indicators pointed to steady employment levels but a shorter average workweek. Input and selling price increases picked up, and capital spending plans firmed somewhat. Looking ahead, firms grew more optimistic about the six-month outlook. Manufacturing activity declined in New York State, according to ... (full story)