Economy

August a Strong Month for Manufacturing in New York
Written by Sandy Williams
August 16, 2018
Manufacturers in New York State reported growing business activity in August, according to the latest Empire State Manufacturing Survey.
The Federal Reserve Bank of New York says the general business index of the survey climbed three points to 25.6 as new orders and shipments remained strong. The new orders index slipped about a point to 17.1 in August, while shipments increased 11.1 points to 25.7.
Manufacturers reported that unfilled orders increased, while inventories held steady. Vendor delivery times continued to lengthen in August.
Prices paid remained elevated, bumping up the index 2.5 points to 45.2. The prices received index came down 2.2 points for a reading of 20.0 for the month.
The employee number index edged lower, but hours worked increased modestly.
Firms were slightly less optimistic this month compared to earlier in the year. However, the future business index gained four points to register 34.8. Firms are expecting fewer unfilled orders and shorter delivery times. Employment levels are expected to increase in the next several months. Firms anticipate prices will remain elevated.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

Consumer auto delinquencies: Warning sign for consumer health?
The Consumer Federation of America estimates rising total auto debt at a staggering $1.66 trillion, along with increasing repossessions and a sharp increase in delinquencies.

Beige Book: Regional market growth remains mostly flat
Economic growth in some US regions in September was offset by challenges in others, causing the market to appear largely unchanged overall, according to the Federal Reserve’s latest Beige Book report.

ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.

Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.

Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.