Economy

Modest Expansion for NY Manufacturers in January
Written by Sandy Williams
January 15, 2020
Manufacturing in New York State expanded modestly in January. The Empire State Manufacturing Survey’s general business conditions index gained 1.5 points to post 4.8 for the month.
Shipments posted 8.6, down one point from December, but new orders gained 4.9 points to post 8.6.
Unfilled orders continued to decline, delivery times were shorter, and inventories held steady in January.
Prices increased noticeably, said the Federal Reserve Bank of New York. “After falling to a multi-year low last month, the prices paid index rose 16 points to 31.5, and the prices received index climbed 10 points to 14.4.”
Firms remained uncertain in the six-month outlook. The index for future business conditions dipped three points to 23.6, but future shipments climbed five points to 32.7. Modest increases in employment and hours worked are expected.
Commented MarketWatch: “The headline index has been in a narrow range since the middle of 2019. Overall, the factory sector continued to struggle, hurt by international trade worries, a pull-back in spending and Boeing Co.’s issues over its grounded 737 Max airplane.”
Data is compiled from a survey of about 200 manufacturers in New York state. A level above 0.0 indicates improving conditions, below indicates worsening conditions.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

Architecture firms struggle through April
For the third month in a row, architecture firms reported a reduction in billings through April, according to the latest Architecture Billings Index release.

House committee blocks GOP budget proposal
The budget proposal has big implications for steel and manufacturing.

Manufacturing in New York state contracts again in May
Manufacturing activity in New York state declined for the third consecutive month, according to the May Empire State Manufacturing Survey from the Federal Reserve Bank of New York. Responding firms continue to forecast weaker business conditions in the coming months.

Chicago Business Barometer falls back in April, remains in contraction
The Chicago Business Barometer declined in April, reversing March’s gains, according to Market News International (MNI) and the Institute for Supply Management (ISM).

Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)