Economy
Empire State Index Has Unexpected Gain
Written by Sandy Williams
June 16, 2014
An increase in manufacturing activity in New York took analysts by surprise in June. The Federal Reserve Bank of New York reported the general business index in the Empire State Manufacturing Survey posted a reading of 19.28, up from 19.01 in May. Economists were expecting the index to decline to 15.0 in June.
The new orders index rose eight points to 18.4, reaching its highest level in four years. Shipments continued to expand in June, slowing by three points to 14.2 for the month. Unfilled orders were at a stable level while delivery times increased two points on the index to 1.1.
Bigger inventories were reported as evidenced by a seven point rise in the inventories index to 9.7 in June. The price indexes were lower in June with prices paid falling three points to 17.2 and prices received down two points to 4.3.
Employment levels continue to expand but at a slower pace in June.
Manufacturers were highly optimistic about future business activity in the six month outlook. New orders are expected to increase along with new shipments. Higher prices are expected in the next six months with the future prices paid index rising five points and the future prices received index up two points.
Manufacturers continue to be cautious about capital expenditures and technology spending.
Below is an interactive graphic of the Empire State Manufacturing Index History and a three month moving average (3MMA), but it can only be seen when you are logged into the website and reading the newsletter online. If you need any assistance logging in or navigating the website, contact us at info@SteelMarketUpdate.com or 800-432-3475.
{amchart id=”140″ Empire State Manufacturing Index and 3MMA}
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
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
ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.