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
Read more from Sandy WilliamsLatest in Economy
Steel exports recovered in May but still historically low
US steel exports rose 10% from April to May but remained low compared to recent years. This came just one month after exports fell to the lowest level recorded in nearly five years.
AISI: Raw steel production ticks up near recent high
The volume of raw steel produced by US mills inched higher last week, according to the American Iron and Steel Institute (AISI). After steadily increasing in April and May, domestic mill output stabilized in early June and has remained historically strong since.
Steel groups welcome passage of budget bill
Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.
Industry groups praise Senate for passing tax and budget bill
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.
Chicago PMI dips 0.1 points in June
The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.