Economy
New York Manufacturing Continues to Expand in January
Written by Sandy Williams
January 17, 2017
The January Empire State Manufacturing Survey in January declined -1.1 from December to 6.5. The general business index reading was positive for the third consecutive month indicating that business activity continues to expand in New York State.
New orders and shipments remained positive but fell by 7.3 and 1.3 points, respectively. Unfilled orders posted a reading of -1.7 up from -10.4 in December. The delivery time index rose to -2.5. Inventories had their first increase since mid-2015, climbing 16 points to 2.5 on the inventory index.
There was a faster increase in input and selling prices in January, with the indexes advancing by 14 points each. Employment indexes were negative this month for number of employees and average workweek.
Manufacturers expressed strong optimism for the next six months, unwavering from last month’s multiyear high of 49.7. Indexes indicated employment levels and average workweek length are expected to show strong growth in the coming months.
More firms expected to increase capital expenditures and technology spending in the next six months.
Below is a graph showing the history of the Empire State Manufacturing Index. You will need to view the graph on our website to use its interactive features, you can do so by clicking here. If you need assistance logging into or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
House committee blocks GOP budget proposal
The budget proposal has big implications for steel and manufacturing.
Manufacturing in New York state contracts again in May
Manufacturing activity in New York state declined for the third consecutive month, according to the May Empire State Manufacturing Survey from the Federal Reserve Bank of New York. Responding firms continue to forecast weaker business conditions in the coming months.
Chicago Business Barometer falls back in April, remains in contraction
The Chicago Business Barometer declined in April, reversing March’s gains, according to Market News International (MNI) and the Institute for Supply Management (ISM).
Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.