Economy
Empire State Manufacturing Index Drops in February
Written by Sandy Williams
February 18, 2014
General business conditions fell 8 points in the February 2014 Empire State Manufacturing Survey after rising 10 points in January, but remained positive at 4.5. New orders were flat for the month, declining 11 points to -0.2. The shipment index dropped 13 points to 2.1. The inventory index fell to -5.0 indicating a slight drop in inventory levels.
The prices paid index fell 12 points to 25.0 after a sharp rise in January. The selling price index rose by 2 points while rising input prices slowed in pace during February. Employment levels picked up slightly in February along with a slight increase in hours worked per week.
Manufacturers remained optimistic about business conditions for the next six months. The future general business conditions index rose to 39.0 along with a six point increase for future new orders. The future prices paid index fell to 40.0 and future prices received held steady at 23.8.
New York manufacturers are not planning capital expenditure or technology spending in the next six months. Both indexes fell in February to 2.5 and 0.0, respectively.
The Federal Reserve Bank of New York’s Empire State Manufacturing Survey is based on responses from approximately 100 manufacturing executives from a pool of 200 in New York State.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.
Supply chains, end-users brace for impact from tariffs
Supply chains are working through what the tariffs mean for them