Economy

Empire State Manufacturing Index Shows 4th Month of Growth
Written by Sandy Williams
September 17, 2013
The Empire State Manufacturing Index lost two points in September but conditions for New York manufacturers still indicate modest growth at 6.3.
New orders picked up from a flat 0.27 in August, rising to 2.4. The shipping index surged 15 points to 16.4—its highest level in more than a year. Prices paid held steady at 21.5 while the index for prices received climbed five points to 8.6. Unfilled orders index was relatively unchanged at -6.5 in September. The inventory index climbed six points to its first positive reading in more than a year while the delivery time index dipped to -4.3. Labor indexes were relatively steady with the employment and work week indices edging down slightly to readings of 7.5 and 1.1, respectively.
Manufacturers are optimistic about future business activity over the next six months as evidenced by a three point rise in the future business conditions index to 40.6. Indexes for future new orders and shipments rose by 8 points each. When manufacturers were asked about the probability of specific price rises over the next twelve months, respondents said there was a 44 percent chance of prices staying within 2 percent of current levels and a 43 percent chance of an increase of 2 percent or more.
Capital expenditures may have reached its peak after recording a 12+ month high in August and slipping nine points in September. Technology spending still looks promising for the next six months—jumping 7 points to an index reading of 11.8.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

CRU: China hits back with retaliatory tariffs on US
Targets include coal, liquified natural gas, crude oil, and other commodities

ISM: Manufacturing expands in January for first time in years
Following more than two years of contraction, US manufacturing activity rebounded in January according to the Institute for Supply Management.

Tampa Steel Conference: Trade attorney says brace for turbulence
Steel and aluminum have been identified as high priorities for trade

Chicago Business Barometer rises in January
Despite the gain, the index remains below both the levels of November 2024 and the 2024 average.

CSPA asks Canadian government to work against potential tariffs
The Canadian Steel Producers Association (CSPA) has urged Canada to engage with the US administration to avoid the tariffs threatened by the Trump administration by Feb. 1. “The imposition of tariffs on Canadian goods will have an incredibly disruptive impact on our integrated North American supply chains and on our workers and their families,” François […]