Economy

New York Manufacturing Declines in December Survey

December 16, 2014

New York manufacturers reported a decline in general business conditions in the December Empire State Manufacturing Survey.

The headline business conditions index fell to -3.6, a drop of 14 points and its first negative reading in two years. The new orders index slid 11 points to -2.0 while shipments dropped 11 points to -0.2. The readings indicate activity was essentially flat during the survey period.

Delivery times shortened and inventory levels dropped. Input prices increased slight for the third consecutive month. The prices received index advanced six points to 6.3 indicating a slight increase in selling prices.

Employment levels held steady at 8.3 for the third month, indicating increasing employment levels. Hours worked per week, however, dropped for the fourth month in a row

Although the six-month outlook was lower by nine points in December, it was at 38.6 which is still considered very optimistic. The indexes for future new orders and shipments also declined in the survey. Hiring is expected to expand over the next six months as well as hours worked.

Indexes for future capital expenditures and technology spending fell in the December survey.

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}