Economy

Empire State Index Shows Slight Improvement

July 15, 2015

The July 2015 Empire State Manufacturing Survey showed slightly improved conditions for New York state manufacturers. The index rose six points to 3.9 following a negative reading in June.

The index has been hovering around the zero point for the last four months indicating that business activity has been subdued. Graphic representation of the period shows nearly a flat line for current and expected activity.

The new orders indexed declined slightly in July and remained negative at -3.5. Shipments rose modestly and a decrease in unfilled orders was noted. Delivery times were unchanged and inventory levels dropped.

Below is a graph showing the history of the Empire State Manufacturing Index. You will need to view the graph on our website to use it’s interactive features, you can do so by clicking here. If you need assistance with either logging in or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.

The prices paid index posted at 7.5, its lowest level in three years, indicating a modest increase in input prices. Prices received index rose four points to 5.3 for the month.

Employee numbers were slightly lower as indicated by a drop of five points on the index to 3.2. The average workweek index was little changed.

The indexes that measure future activity showed modest optimism. The future business activity index inched up 1 point to 27.0. The future new orders index rose six points to 32.2 along with a three point rise in the future shipment index. The index for future employment declined for the fourth month but remained in positive territory, indicating an anticipated rise in employment. The indexes for future capital expenditures and technology spending both improved in July.