Statement From LIA Chief Economist John Rizzo on
By: Dr. John A. Rizzo
"The December 2013 Empire State Manufacturing Survey indicated that manufacturing activity improved in New York State, but only slightly. The index recorded a value of 0.98, which was below the expected value of 4.75. A reading above 0 indicates expansion. The index of general business conditions was also below expectations and showed little evidence of expansion, and labor market conditions were weak. This latest news highlights the fragile nature of the expansion for New York State and Long Island, and the need for continued economic stimulus from the Fed."