Economy

Empire State Manufacturing Index Down 21 Points in October

October 15, 2014

The headline index for the Empire State Manufacturing Survey Index fell 21 points in October. The general business index registered 6.2 after a robust September at 27.54. The decline indicates that business activity is still considered growing but a slower pace.

According to the Federal Reserve Bank of New York, the share of responses indicating that business conditions were the same as in September increased to 55.30 percent while the percent of those seeing lower conditions was relatively unchanged at 19.27 from 18.43.

The new orders index fell 19 points to -1.7 and shipments fell 26 points to a flat 1.1.

The indexes for prices paid and prices received both slipped lower for the month, to 11.36 from 23.91 and 6.82 from 17.39, respectively.

The employment index rose 7 points to 10.2 in October.

Looking toward the next six months, the general business index fell 5 points to 41.6. Future new orders decreased 3 points to 42.35, along with a 5 point decline in future shipments at 42.5.

Prices paid and received are expected to decline slightly in the next six months.

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}