Economy
Empire State Survey Shows Continued Growth in December
Written by Sandy Williams
December 16, 2017
Business activity in New York State continued to expand in December. The Empire State General Business Conditions Index registered a healthy 18.0, down slightly from 19.4 in November.
The new orders index posted 19.5 and shipments rose four points to a reading of 22.4, indicating solid growth. Unfilled orders declined and delivery times lengthened during the survey period. A reading of 1.4 for the inventory index indicated inventories were steady.
Prices increased at a faster rate in the December survey with prices paid climbing five points to 29.7 and prices received up 2.4 points to 11.6.
Employment indexes suggested a small increase in employment, but hours worked remained unchanged.
Firms continued to show optimism for future business conditions, but less so than November. The future business index dropped three points to 46.6. Future orders fell about 13 points to 41.1 after reaching the highest level in several years in November. Employee hiring is expected to increase, as well as capital expenditures.
The Empire State Manufacturing Survey is published monthly by the Federal Reserve Bank of New York.
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
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