The Empire State Manufacturing Survey’s General Business Conditions index fell -6.8 pts to -16.0 in June, the fourth consecutive month of contraction and the lowest since January.

• New Orders dropped -21.2 pts to -14.2, and Shipments fell -10.7 pts to -7.2, both reversing last month’s gains.

• Prices Paid fell -12.2 pts to 46.8, while Prices Received rose 3.7 pts to 26.6, showing a mixed picture for inflation pressures.
• Employment rose for the first time since January, with the index up 9.8 pts to 4.7, while the Average Workweek held nearly flat at -1.5.
• Supply availability remained tight with the index at -8.3, slightly better than May’s -11.4.
• Future General Business Conditions surged 23.2 pts to 21.2, marking the first optimistic outlook since March.