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

ABI Index Drops in August
August’s Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a moderate decrease.

Beige Book: Economic Activity Appears Stable
The US Federal Reserve said that although overall economic activity was modest in July and August, per its latest Beige Book Report released on Sept. 6, the report was still slightly more optimistic than the previous one.
Dodge Momentum Declines in August on Tighter Lending
The Dodge Momentum Index (DMI) moved lower in August, driven by a slowdown in planning from tighter lending standards, according to the latest data from the Dodge Construction Network (DCN).

ISM PMI Shows 10 Months of Decline in Manufacturing Activity
Activity in the US manufacturing sector continues to slow, according to the latest monthly report on business from the Institute for Supply Management (ISM).
Chicago Business Barometer Rises for Third Consecutive Month
The Chicago Business Barometer edged up in August. This is the third consecutive monthly increase according to the latest indicators from Market News International (MNI) and the Institute for Supply Management (ISM).