New York Manufacturing Declines for 4th Month

Written by Sandy Williams

The Empire State Manufacturing Survey continued to show declining business activity for New York manufacturers. The headline index reading inched up to -10.7 from -11.4 last month. November marks the fourth consecutive month of negative readings for the survey. Economists were expecting the index to jump to -6.36, according to Bloomberg.

Indexes for new orders and shipments rose in November but remained in negative numbers at -11.8 and -4.1, respectively. Input prices increased slightly but selling prices were slightly lower. Inventories were reduced significantly as indicated by a ten point drop in the inventory index to -17.3.

The six month outlook for future business conditions edged lower to 20.3 along with declines for future new orders and shipments. Employment was expected to improve with the index for expected number of employees climbing to 16.4 and the index for expected workweek rising to 5.5.

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