Economy
Empire State Manufacturing Survey Plummets in May
Written by Sandy Williams
May 16, 2016
New York manufacturers reported declining general business conditions in the May Empire State Manufacturing Survey. The headline index fell 19 points to -9.0. The indexes for shipments and new orders both fell into negative numbers at -1.94 and -5.54, respectively.
The three month moving average (3MMA) of the index rose from -2.15 in April to +0.39 in May. This time last year, the 3MMA was +2.90.
Input prices increased slightly while selling prices decreased somewhat. The inventory index suggests inventories were lower.
Employment levels were relatively unchanged other than a decline in average workweek hours.
In the six month outlook, manufacturers were less optimistic than in April regarding future general business conditions. New orders and shipments trended lower in the future outlook. Capital spending plummeted from an index reading of 22.12 in April to 3.13 in May, the lowest reading in more than two years.
The Empire State Manufacturing Survey is conducted monthly by the Federal Reserve Bank of New York.
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.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
January energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and active rig counts are leading demand indicators for oil country tubular goods (OCTG), line pipe and other steel products.
New York state manufacturing fell in January
“Price increases, while subdued, picked up,” Richard Deitz, Economic Research Advisor at the New York Fed. “Firms grew more optimistic that conditions would improve in the months ahead.”
Beige Book shows mixed economic trends, manufacturing challenges, tariff concerns
Economic activity across the US experienced slight to moderate growth at the end of 2024, while manufacturing activity showed a slight decline
Contractors concerned about tariffs, immigration in 2025: AGC survey
AGC said Trump should be “sparing” in imposing new tariffs and exclude products needed for domestic manufacturing, energy and infrastructure.
Dodge Momentum rebounds in December
Improved growth in data center planning and warehousing projects helped the Dodge Momentum Index (DMI) rebound in December.