Economy

Waning Optimism by Empire State Manufacturers

February 17, 2015

Manufacturing activity in New York expanded at a modest pace in February according to the latest Empire State Manufacturing Survey. The general business index dipped two points to register 7.8. The index for new orders was down five points to 1.2 indicating flat activity. Shipments rose 4.5 points to 14.1.

Delivery times were relatively unchanged at 1.1 while the unfilled orders index registered -6.7. Inventories levels were reported to be slightly lower during the month.

The prices paid index rose two points to 14.6 indicating a moderate increase in input prices. The index for selling prices indicated slowing in the pace of prices increases.

The employment level index dropped to 10.1 from 13.7 in January but the average workweek index increased to -1.1.

Manufacturers were less optimistic about future general business conditions in the six month outlook. The index plunged 23 points to 25.6 for its lowest level in two years. Future prices paid and received indices declined by several points to 27.0 and 5.6, respectively.

Manufacturers expect to increase capital expenditures in the next six month according to an index jump of 18 points to 32.6, the highest level in more than three years. Technology spending rose by 6.5 points.

Below is an interactive graphic of the Empire State Manufacturing Index History, 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}