Economy

Modest Rise in Empire State Manufacturing Index

April 16, 2019

A six point increase to 10.1 in the general business index of the Empire State Manufacturing survey indicated a modest rise in manufacturing activity in April. New York manufacturers reported a slight rise in new orders and shipments. The new orders index rose to 7.5 from 3.0 in March, while the shipments index increased to 8.6 from 7.7.

Input prices and prices received moved lower during the month with the prices paid index falling seven points to 27.3 and the prices received index declining four points to 14.0. Inventories and delivery times both increased.

Optimism waned in April, according to survey results. The future business conditions index fell 17 points to 12.4, its lowest level in three years. Indexes for future new orders and shipments fell 8.5 points and 5.0 points, respectively.

The Empire State Manufacturing Index, published by the Federal Reserve Bank of New York, is the first of the regional Federal Reserve surveys to be released each month. When looked at together, the regional indexes provide insight on the U.S. manufacturing business cycle.

Below is a graph showing the history of the Empire State Manufacturing Index. To use its interactive features, view the graph on our website by clicking here. If you need assistance logging into or navigating the website, please contact us at info@SteelMarketUpdate.com.