Economy

Empire State Index Has Manufacturing Expanding But at a Slower Pace

November 17, 2014

Manufacturing activity in New York expanded at a faster pace in November, according to the Empire State Manufacturing Index, but missed analyst expectations. The Index rebounded to 10.2 from 6.17 in October but failed to reach the forecast reading of 12.

The October and November readings are significantly lower than the May through September average of 20, indicating a slower a pace of growth in the state.

New orders and shipments both rose 11 points in November to 9.1 and 11.8, respectively. The employment level grew but was at odds with a decline in hours worked.

Input prices remained steady and selling prices were flat for the month.

New York manufacturers remain optimistic about future business activity. The future general business index jumped six points to 47.6, its highest level since January 2012. The future new orders and shipments indices both rose in the November. The capital expenditures index reached its highest level in more than two years, up six points to 27.7.

Below is an interactive graphic of the Empire State Manufacturing Index History and a three month moving average (3MMA), but it can only be seen when you are logged into the website and reading the newsletter online. If you need any assistance logging in or navigating the website, contact us at info@SteelMarketUpdate.com or 800-432-3475.

{amchart id=”140″ Empire State Manufacturing Index and 3MMA}