Economy

Empire State Manufacturing Index Softens in September
Written by Sandy Williams
September 17, 2018
The Empire State Manufacturing Index slid seven points in September from its 10-month high in August. The general business conditions index showed a slower pace of growth with a reading of 19.0 for the month, below economists’ expectations of 23.
New orders and shipments continued to expand but at a softer rate, falling 0.6 points and 11.4 points on their respective indices.
New York manufacturers noted extended lead times, as well as longer delivery times and higher inventory levels. Prices for raw materials continued to be elevated in September with manufacturers reporting higher input costs and selling prices.
Employment levels increased modestly in September in regard to both jobs and hours worked.
The general business index for the six-month outlook fell five points to 30.3. Firms remained moderately optimistic and are expecting improvements in unfilled orders and delivery times. Inventories were expected to remain about the same for the next two quarters.
The capital expenditures index moved down seven points to 19.5 and the technology spending index fell two points to 10.6.
The Empire State Manufacturing Index is a monthly survey by the Federal Reserve Bank of New York of approximately 200 manufacturing executives from a wide variety of industries in New York State.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

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.

Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.

AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.