New York State manufacturers have faced deteriorating business and have scaled back expectations for the second half of 2012, according to August’s Empire State Manufacturing Survey.
About 22% of manufacturers said business improved during the month, while about 28% said business weakened. The remainder, 50%, said business stayed the same.
The survey, citing index numbers, pointed to slower business as of late. The general business conditions index dropped below zero for the first time since Oct. 2011, falling 13 points to -5.9. This is a signal that manufacturing activity in New York has declined. Meanwhile, the new orders index was at -5.5, which indicates a small decline in orders. This is the second month in a row that score was below zero.
When asked about hiring and capital spending for the second-half of 2012, nearly twice as many firms said they scaled back plans rather than giving upward projections. Many manufacturers cited “increased uncertainty about business prospects” when deciding to scale back on hiring and capital spending.
Samuel Weigley
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
