Afternoon Coffee: New York Manufacturing Activity Takes a Dive, Companies Pause Production Near China Blast Site

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New York’s manufacturing activity during August fell to its lowest level since April 2009. The New York Fed’s Empire State general business conditions index dropped to -14.92, down 3.86 from July.

More companies are halting operations at plants near the port of Tianjin, China, where multiple explosions have taken place in the last week. Toyota said it would close production lines at its nearby plant until the end of Wednesday, for example.

On Sept. 30, the federal government is set to release its final rule requiring interstate commercial truck drivers to switch to electronic logs to keep track of hours on and off duty. The short and long-term impacts of such a ruling are expected to change how goods are transported through North American supply chains.

As of early August, the National Highway Traffic Safety Administration has recalled 32.4 million vehicles in 2015. Some automakers are on track to set new records for the number of recalls within one year.

 

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