Sentiment Gauge Among New York Manufacturers Drops Below Zero for Only 4th Time In History

Indicative of industry's gloomy outlook

A worker at a newly renovated Ford's Assembly Plant in Chicago in 2019. Jim Young/AFP via Getty Images

Manufacturing activity in New York State is expected to decline over the next six months, according to the the New York Fed’s Empire State Manufacturing Survey released on July 15.

Economists rely on the index and other regional manufacturing gauges for an early read on factory activity.