Business activity declined in New York State, according to firms responding to the December 2023 Empire State Manufacturing Survey. The headline general business conditions index fell twenty-four points to -14.5. New orders fell for a third consecutive month, and shipments also declined. Unfilled orders continued to shrink significantly, and delivery times shortened at the fastest pace since well before the pandemic. Inventories moved lower. Employment declined modestly, and the average workweek edged down. The pace of input price increases moderated, while the pace of selling price increases held steady. After ... (full story)