Federal Reserve Bank of New York (03/16/15)

Business activity continued to expand at a modest pace for New York manufacturers, according to the March 2015 Empire State Manufacturing Survey. The headline general business conditions index, at 6.9, remained close to last month’s level. Twenty-six percent of respondents reported that conditions improved, while 19% reported that conditions worsened. The new orders index fell four points to -2.4, suggesting a small decline in orders, and the shipments index declined six points to 7.9.

The index for number of employees climbed eight points to 18.6, pointing to significant gains in employment, and the average work week rose six points to 5.2, indicating a small increase in the average work week.