Business conditions in New York State have dropped to the lowest level since the early months of the pandemic.
That's according to the monthly Empire State manufacturing survey from the New York Federal Reserve.
The headline general business conditions index fell twenty-nine points to minus 43.7, the lowest reading since May 2020.
Any reading below zero indicates deteriorating conditions.
New orders and shipments also posted sharp declines.
The Fed says employment and the average workweek declined modestly.