According to a report by Jinse Finance, based on responses to the September 2024 manufacturing survey, business activity in New York State grew for the first time in nearly a year. The Empire State Manufacturing Index for September came in at 11.5. The survey showed that new orders climbed, shipments grew significantly, delivery times and supplies stabilized, and inventories remained steady. Labor market conditions remained weak, with employment continuing to contract modestly and average weekly hours stable. Input and selling prices rose at a virtually unchanged pace. While the capital expenditure index fell below zero for the first time since 2020, businesses became more optimistic about conditions in the coming months.