Economy
NY Manufacturers Report Healthy July
Written by Sandy Williams
July 15, 2014
The July Empire State Manufacturing Survey showed improved business conditions for the third consecutive month with a reading of 25.6, up 6 points and at its highest level in over four years. In the survey of New York manufacturers, new orders held steady at 18.8 while the shipments index picked up nine points to register at 23.6.
There were fewer unfilled orders in July with the unfilled orders index dropping six points to -6.8. Delivery times fell two points and inventories were leaner as indicated by a 13 point drop in the index to -3.4.
Prices increased in July with the prices paid index up 8 points to 25.0 and prices received up 3 points to 6.8.
Employment levels rose according to a six points increase in the employment index.
Despite strong gains in July, manufacturers were somewhat less confident about future conditions for the next six months. The future general business index fell 11 points to 28.5. The future new orders index dropped 19 points along with a 21 point plunge in the future shipments index. Inventories are expected to stay near current levels or slightly below.
Employee hiring may decrease according to a three point drop in the six month outlook employee index. The capital expenditures index fell 3 points while technology spending climbed seven points to 10.2.
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
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