FX.co ★ NY Manufacturing Activity Sees Strongest Rise in a Year

The New York Empire State Manufacturing Index experienced a notable surge in November 2025, reaching 18.7—the highest level observed in a year—up from 10.7 in October. This increase significantly surpassed the anticipated forecast of 6. The index reflects robust manufacturing activity within New York State, highlighted by considerable growth in new orders (rising from 3.7 to 15.9) and shipments (increasing from 14.4 to 16.8). Delivery times have modestly extended (from 3.9 to 7.7), while supply accessibility has slightly declined (from -10.7 to -11.5) even as inventories expanded (rising from -1 to 6.7). Improvements in labor market metrics were noted, indicating a slight rise in employment (from 6.2 to 6.6) and a longer average workweek (from -4.1 to 7.7). Although the pace of increases in input prices (decreasing from 52.4 to 49) and selling prices (from 27.2 to 24) has decelerated, it remains at an elevated level. Businesses remain optimistic about future conditions, although their confidence has waned slightly, as evidenced by the future general business conditions index, which decreased from 30.3 to 19.1.