Economy
Empire State Manufacturing Index Dips in August
Written by Sandy Williams
August 15, 2014
Current manufacturing conditions in New York slipped in August according to the latest Empire State Manufacturing Index. The headline index for general business conditions dropped 11 points to register 14.7 after reaching a four year high of 25.6 in July. The survey still indicates manufacturing growth but not as widespread as previously, said the Federal Reserve Bank of New York.
The index for new orders decreased by five points to 14.1 in August, while the shipments index rose one point to 24.6. Unfilled orders were down one point to -8.0 indicating a decrease in backlogs. Inventories were leaner as evidenced by an 11 point drop to -14.8 for the inventory index.
The drop in the headline number surprised economists who expected a reading of around 20 for August.
Manufacturing conditions in New York are looking good in the six month outlook according to the manufacturing companies in the survey. The index soared 18 points to its highest level since 2012, registering 46.8.
“Despite the pullback in most of the survey’s indexes for current conditions, optimism about the near-term outlook grew increasingly widespread,” said the New York Fed in its release.
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
Second steel derivatives S232 inclusion window opens, business community voices concern
The US Department of Commerce announced that its second window for submitting applications for the inclusion of derivative steel and aluminum products in Section 232 tariffs is now open, according to the US Federal Register. September’s Inclusion Window Sept. 15 through Sept. 29, applicants can email requests for inclusions to the Defense Industrial Base Programs. The first […]
Steel Summit: ITR economist urges execs to prepare for growth, not recession
If the steel industry professionals who made it to the very final presentation of this year’s SMU Steel Summit were expecting another round of cautious forecasting, they were in for a surprise. Because what they got was a wake-up call.
ISM: Manufacturing growth remained down in August
US manufacturing activity remained muted in August despite a marginal gain from July's recent low, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.