New York Manufacturing Activity Accelerated in May

By Jessica Coacci

Factory activity in New York State grew in May at its fastest pace in over four years, according to the latest monthly edition of the Empire State Manufacturing Survey.

The Federal Reserve Bank of New York said Friday that its statewide manufacturing index of business conditions grew strongly in May to 19.6 from 11 in April. A consensus of economists polled by The Wall Street Journal had expected a reading of 7.

New orders and shipments rose strongly, and employment continued to increase, the survey said.

Meanwhile, both price indexes in the survey picked up to their highest levels since 2022, while delivery times and supply availability worsened. As the war in Iran continues, economists have been cautious of broader inflationary and supply-chain pressures amid higher energy prices.

Write to Jessica Coacci at [e-mail]

(END) Dow Jones Newswires

05-15-26 0845ET