Manufacturing activity in the region was mixed overall, according to the firms responding to the September Manufacturing Business Outlook Survey. The survey’s indicator for current general activity turned positive, while the indexes for new orders and shipments declined and turned negative. The employment index rose and suggested increases in employment overall. Both price indexes moved higher and continue to indicate overall increases in prices. The firms continue to expect growth over the next six months, with expectations more widespread this month.
The firms reported an increase in employment, on balance, after reporting an overall decline last month. The employment index rose from -5.7 to 10.7 this month, the index’s second positive reading in the last three months following mostly negative readings since March 2023. More than 89% of the firms reported no change in employment levels this month, the highest share reporting steady employment since December 1978. Nearly 11% of the firms reported increases, while none reported decreases. The average workweek index declined from -2.3 to -13.6.
