Economy

Manufacturing Momentum Slows in New York in December
Written by Sandy Williams
December 15, 2020
The December Empire State Manufacturing Index indicated a loss of momentum in the New York region. The headline General Business Conditions index fell to 4.9 from November’s reading of 6.3.
“Like the prior month, manufacturing activity in New York State expanded only to a small degree in December,” said the Federal Reserve Bank of New York in its report.
The new orders index dipped slightly to 3.4, but shipments increased 5.8 points to 12.1. Delivery times lengthened and inventories declined during the month. Input costs drove prices paid up 8.0 points to 37.1, but prices received remained relatively stable.
Employment levels increased to the highest level in over a year with average workweek hours remaining the same as November.
Manufacturing firms remained optimistic about future business conditions. Expectations for new orders and shipments continued to be positive.
The survey by the New York Federal Reserve is sent to the same 200 manufacturing executives in New York State each month, encompassing a wide range of industries.

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.