According to responses to the September 2024 Manufacturing Survey, business activity in New York State expanded for the first time in nearly a year. The Empire State Manufacturing Index rose to 11.5 in September. The survey showed increases in new orders, a significant rise in shipments, stable delivery times and supplies, and inventory levels remained stable. The labor market situation remained soft, with employment continuing to contract modestly and average weekly hours remaining steady. The rate of increase in input and selling prices was virtually unchanged. Although the capital spending index dipped below zero for the first time since 2020, businesses expressed more optimism about conditions in the months ahead. (Gold Ten)