Business picked up a bit last month for manufacturers in the Buffalo Niagara region, as the flow of new orders to local factories rebounded from a May slump.
A new report by the Institute of Supply Management – Buffalo showed that the factory sector continues to expand, with the pace of that growth accelerating slightly during June. Lower commodity prices, coupled with rising inventories and the rebound in new orders offset slower growth in production and hiring.
“It was another good month for manufacturing and other economic activity in Western New York,” said Jay K. Walker, the Niagara University economist who compiles the report.
The group’s business activity index strengthened to 61.7 during June after slipping to 61.1 in May. Any reading above 50 is a sign of an expanding economy, and the local index has shown growth by the region’s manufacturing during each of the past 17 months.