Economy
Empire State Manufacturing Robust
Written by Sandy Williams
October 16, 2017
Manufacturing activity in New York State has accelerated with the headline index of the October Empire State Manufacturing Survey climbing six points to 30.2. The survey was at its highest level in three years, bolstered by an 11-point gain in shipments, putting that index at 27.5. The new orders index slipped seven points, but was still on solid ground with a reading of 18.0.
Longer delivery times were noted, and inventory levels declined at a modest pace. Pricing indexes moved lower this month, with the prices paid index down nine points to 27.3 and the prices received index retreating seven points to register 7.0.
No change was evident in the average workweek length, and the employment index expanded five points to 15.6.
The six-month outlook continued to be optimistic. The future business index rose six points to 44.8 and the future new orders index inched up another point to also register at 44.8.
About the Survey
The Empire State Manufacturing Survey is sent each month by the Federal Reserve Bank of New York to about 200 executives in a wide range of New York State industries. The main index, General Business Conditions, is a distinct question on the survey, while other indicators are weighted averages. Positive readings show growth, while a negative index reading indicates contraction. Approximately 100 responses are received each month.
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 its interactive features, you can do so by clicking here. If you need assistance logging into 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
Architecture billings flat in October after months of contraction
Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.