Economy

Business Steady in NY with Optimism for Future
Written by Sandy Williams
October 16, 2013
Business conditions held steady for New York manufacturers according to the October Empire State Manufacturing Index. The general business index fell 5 points to 1.5 but remained in growth status. The new orders index rose 5 points while shipping fell 3 points, suggesting modest increases for both indexes for the month.
The prices paid index remained at 21.7 for the month and the prices received index dropped 6 points to 2.4. Labor conditions in New York were relatively steady for October.
New York manufacturers continued to show optimism in the six-month outlook with the future general index registering 40.8. Future orders and shipments are expected to increase along with pries paid. The future prices paid index rose 6 points to 45.8. Future prices received remained steady.
New Yorkers can look forward to increases in employment according to survey respondents.
In supplementary questions looking ahead one year, manufacturers said they expect an increase in borrowing needs and tighter credit availability.
The Empire State Manufacturing Survey is published by the Federal Reserve Bank of New York. It is based on a questionnaire sent to approximately 200 executives in the manufacturing industries and is compiled from responses typically received from 100 companies.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.

Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.

Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.

Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.

AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.