Economy
Empire State Manufacturing Robust
Written by Sandy Williams
October 16, 2017
Manufacturing activity in New York State has accelerated with the headline index of the October Empire State Manufacturing Survey climbing six points to 30.2. The survey was at its highest level in three years, bolstered by an 11-point gain in shipments, putting that index at 27.5. The new orders index slipped seven points, but was still on solid ground with a reading of 18.0.
Longer delivery times were noted, and inventory levels declined at a modest pace. Pricing indexes moved lower this month, with the prices paid index down nine points to 27.3 and the prices received index retreating seven points to register 7.0.
No change was evident in the average workweek length, and the employment index expanded five points to 15.6.
The six-month outlook continued to be optimistic. The future business index rose six points to 44.8 and the future new orders index inched up another point to also register at 44.8.
About the Survey
The Empire State Manufacturing Survey is sent each month by the Federal Reserve Bank of New York to about 200 executives in a wide range of New York State industries. The main index, General Business Conditions, is a distinct question on the survey, while other indicators are weighted averages. Positive readings show growth, while a negative index reading indicates contraction. Approximately 100 responses are received each month.
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
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.
US housing starts gain momentum in July
US housing starts rose in July both month-on-month and year-on-year, according to figures from the US Census Bureau.