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Report says business activity is on the rise across New York: What does that mean?

For the first time in half a year, New York state has experienced a rise in business activity, as indicated by responses to the April Empire State Manufacturing Survey.

The general business conditions index saw an increase of thirty-five points, reaching 10.8 and suggesting a slight uptick in activity. Of the respondents, 35% reported improved conditions over the past month, while 24% observed worsening conditions.

Both the new orders and shipments indices saw significant growth, with the former surging by forty-seven points to 25.1 and the latter increasing by thirty-seven points to 23.9. This demonstrates that orders and shipments have substantially improved after a period of decline.

DiSanto Propane (Billboard)

The unfilled orders and delivery times indices remained at 0, while the inventories index rose ten points to 8.2, hinting at a moderate growth in inventories.

For the third consecutive month, the number of employees index remained in negative territory at -8.0, and the average workweek index also stayed below zero at -6.4, indicating a reduction in both employment and hours worked.

The prices paid index dropped by nine points to 33.0, while the prices received index remained stable at 23.7.

Expectations for future business conditions inched up to 6.6, suggesting that companies do not foresee a significant improvement in activity over the next half year.

Moderate increases in new orders and shipments are anticipated, along with employment growth. The capital spending index climbed three points to 16.5, while the technology spending index registered at 10.3.