Business Conditions Weaken Business activity declined for a second consecutive month for New York manufacturers, according to the September 2015 survey. After tumbling nineteen points last month to its lowest level since 2009, the general business conditions index was little changed at -14.7.
Twenty percent of respondents reported that conditions had improved over the month, while 35 percent reported that conditions had worsened. Though a few points higher than last month, the new orders index remained negative at -12.9, indicating that orders continued to slide, and the shipments index, at -8.0, pointed to an ongoing decline in shipments.
The unfilled orders index fell four points to -8.3. The delivery time index edged down to -6.2, indicating slightly shorter delivery times, and the inventories index fell one point to -18.6, suggesting that inventory levels were significantly lower than last month. Labor Market Conditions Deteriorate Price changes were quite modest. The prices paid index slipped to 4.1, its lowest level since the Great Recession. The prices received index dipped below zero, falling six points to -5.2 in a sign that selling prices declined. Labor market conditions worsened, with declines in employment levels and hours worked.
The index for number of employees fell below zero for the first time in well over two years, slipping eight points to -6.2, and the average workweek index dropped to -10.3
