Part 4/10:
The manufacturing industry, often considered a bellwether for economic health, reveals troubling signs of contraction. The New York State manufacturing index fell to -8.1 in April—entering negative territory for the first time since early 2023, with future outlooks and new orders reaching historic lows that even surpassed those seen during the 2008 financial crisis.
This decline is driven by several factors:
Trade Policy Uncertainty: Ongoing tensions and tariffs on imports from China, Canada, and Mexico have disrupted supply chains and increased operational costs.
Rising Input Costs: Raw material prices have surged, squeezing profit margins and reducing production levels.