Why the N.Y. Fed's Empire State Survey Still Matters
The New York Fed watches the state's manufacturing closely
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The latest Empire State manufacturing survey, released Aug. 15, showed definite softness in manufacturing in New York state, perhaps foreshadowing a slowdown in manufacturing growth for the country as a whole.
To many non-economists, the idea of New York state being a reliable indicator of manufacturing can appear a little odd. Manhattanites anchored to their desks have trouble imagining an industrial landscape anywhere in New York, even though many have likely never been upstate.