OEMs
Modest Uptick in New York's Manufacturing Sector
Written by Becca Moczygemba
November 16, 2023
New York’s manufacturing activity saw an increase in November, according to the most recent Empire State Manufacturing Survey.
The headline general business index rose to 9.1 in November from October’s -4.6. However, the new orders index fell 0.7 points month over month to -4.9, while the shipments index increased 8.6 points to 10.
Of respondents surveyed, 33% reported that conditions improved over the past month. However, 24% reported a decline in business conditions.
“The prices paid index edged down three points to 22.2, pointing to a slight moderation in input price increases, while the prices received held steady at 11.1, a sign that selling price increases remained modest,” the survey said.
The inventories index was boosted 11.2 points to 9.1 month over month, according to the survey.
Though activity grew in November, many firms are not optimistic about the future.
“Looking ahead, firms became much less sanguine about the outlook. The index for future business conditions plunged twenty-four points to -0.9, its lowest level in nearly a year,” the survey said.
The index for the number of employees fell eight points to -4.5 in November. Likewise, the average workweek dropped six points to -3.8. Both numbers demonstrate a decline in employees and hours worked.
Becca Moczygemba
Read more from Becca MoczygembaLatest in OEMs
Galvanized buyers report stable demand in quiet market
Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]
AHRI: Heating, cooling shipments jump in February
Domestic shipments of heating and cooling equipment soared in February, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
UAW to create ‘solidarity project’ with auto workers in Mexico
The United Auto Workers (UAW) executive board has voted to start a new “solidarity project” to support auto workers in Mexico.
North American auto assemblies recover in January
North American auto assemblies recovered in January after a usual seasonal slowdown at year-end, according to LMC Automotive data. The result was driven by improved production across the region vs. December’s output.
UAW, Ford reach tentative pact, avert strike at Kentucky Truck Plant
A United Auto Workers (UAW) local has reached a tentative agreement with Ford, avoiding a strike at the automaker’s Kentucky Truck Plant (KTP).