Empire State Manufacturing Survey July 2026 Report

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Manufacturing activity in New York State grew significantly in July 2026, with the headline general business conditions index rising ten points to 15.6. This robust growth was largely driven by marked increases in both new orders and shipments, with the shipments index climbing sixteen points to reach a four-year high of 24.4.

On the labor front, employment expanded for the sixth consecutive month. The index measuring the number of employees rose to 11.4, hitting its highest reading since December 2022, and the average workweek edged higher, indicating growth in both staffing levels and total hours worked.

However, supply chain challenges persisted and worsened during this period. Unfilled orders and inventories saw slight increases, delivery times continued to lengthen, and the supply availability index remained negative at -10.0, indicating an ongoing deterioration in material availability.



Regarding inflation, the pace of input and selling price increases remained elevated but slowed slightly. The prices paid index dropped nine points to 52.3, and the prices received index dipped four points to 27.6, providing a slight moderation following particularly sharp price hikes in May and June.

Looking ahead, firms remain fairly optimistic that broader business conditions will improve over the next six months. The future business conditions index was reported at 27.9, with half of the surveyed respondents expecting general activity, new orders, shipments, and employment to increase. Despite this positive overall outlook, businesses anticipate that supply availability will continue to worsen somewhat and price increases will remain high, while their capital spending plans remain modest.
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