Economy
Empire State Index Climbs in April
Written by Sandy Williams
April 15, 2021
New York manufacturers had a robust month in April with new orders and shipments accelerating. The Empire State Manufacturing general business index rose 9 points to 26.3, its highest level in more than two years.
New orders soared nearly 18 points to 26.9 and the shipments index climbed to 25.0. Delivery times continued to lengthen, surging 17 points to 28.1 and setting a new record. Unfilled orders jumped 17.2 points to 21.2, indicating longer lead times. Inventories climbed a modest 3.5 points.
Prices paid rose to the highest level since 2008, gaining 10 points to register an index reading of 74.8 and indicating higher input prices. The prices received index was also at a record high, jumping 11 points to 34.9 for its fastest pace in more than 20 years.
The employment index jumped five points and the average workweek hours edged up slightly.
Manufacturers were optimistic about future business conditions, with both new order and shipment indices above 40 for the month, said the New York Federal Reserve. Prices are expected to increase along with employment levels.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
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)
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.