Empire State manufacturing expands modestly in February
By Benjamin Chiou
Date: Tuesday 17 Feb 2026
(Sharecast News) - Manufacturing activity growth across New York eased slightly in February but recorded its second straight expansion, with a closely watched economic indicator from the region's Federal Reserve coming in ahead of analysts' forecasts.
The headline general business conditions index from the Empire State Manufacturing Survey slipped to 7.1 this month from 7.7 in January, the New York Fed reported on Tuesday. This was comfortably ahead of the consensus forecast of 6.
February's growth marked the fourth reading in positive territory over the past five months, and the sixth positive reading over the past seven months, following temporary dips in September and December.
The new orders index fell to 5.8 from 6.6, though shipments were flat with the index dropping to -1.0 from 16.3. Meanwhile, the unfilled orders index jumped to 9.1 from -8.2, while the delivery times index rose to 4.0 from zero.
The index for future business conditions rose to 34.7 from 30.3, with new orders and industry employment both expected to grow.
"Manufacturing activity continued to expand modestly in New York State in February. Firms remained optimistic that conditions would continue to improve, with employment expected to grow," said Richard Deitz, economic research advisor at the New York Fed.
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