Economy
Empire State Index Muted, But Optimism Rising
Written by Sandy Williams
December 16, 2019
The Empire State Manufacturing Survey indicated muted business conditions for manufacturers in New York state in December. The general business index gained only 0.6 points.
“As has been the case for the past several months, manufacturing firms in New York State reported that business activity was little changed over the month. The general business conditions index remained subdued for the seventh consecutive month, coming in at 3.5 in December,” said the Federal Reserve Bank of New York.
New orders fell slightly while shipments increased modestly. Unfilled orders continued to decline and delivery times shortened. Inventories were relatively unchanged in December.
The prices paid index fell five points to 15.2 and a multi-year low. The prices received index remained steady at 4.3.
The highlight of the report was the increased confidence expressed by survey participants regarding future business conditions. Optimism increased for the second consecutive month with the future business index up 10 points to 29.8. Manufacturers reported planned increases in capital expenditures and technology spending during the next six months.
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 in to or navigating the website, please contact us at info@SteelMarketUpdate.com.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
ISM: Manufacturing growth slows in July, hits 10-month low
US manufacturing activity slowed again in July to a 10-month low
CRU: Pushing EU imports back to 15% would be a big task
Several EU member states have published a ‘non-paper’ that puts forward proposals for a post-safeguard trade measure.
SMU Community Chat: Tariff-induced panic purchases, inflation, and calculating costs
Chief executive of the Institute for Supply Management (ISM), Tom Derry highlighted how reactive buying behavior has shifted the market into a quiet demand period. Derry presented ISM data during the weekly SMU community chat.
Architecture billings still sluggish despite project inquiry uptick
The Architecture Billings Index (ABI), a leading indicator for non-residential construction activity, declined for an eighth straight month in June.
Beige Book: Tariff pressures mount, flat outlook
All districts reported “experiencing modest to pronounced input cost pressures related to tariffs, especially for raw materials used in manufacturing and construction.”