Economy
Empire State Manufacturing Improves in May
Written by Sandy Williams
May 14, 2018
Manufacturing activity in New York State was strong in May, according to the latest Empire State Manufacturing Survey.
The Federal Reserve Bank of New York reported the general business conditions index rose four points to 20.1 for a faster pace of growth than April. Forty percent of survey respondents said business conditions had improved during the month, compared to 20 percent who said conditions had worsened.
The index for new orders gained seven points, posting a reading of 16.0, while shipments rose 1.6 points to 19.1. Delivery times continued to lengthen and backlogs increased. Inventories expanded slightly.
Input prices continued to be high with the prices paid index at 54.0, its highest level since 2011. The index for selling prices showed a moderate increase in May, gaining two points to register 23.0.
The future business outlook plunged in April to 18.3 from levels that were above 40 for most of the last 18 months. The May survey, however, showed an increase in optimism with the index gaining 13 points to register 31.1.
The Employment index was up slightly in May indicating a modest increase in employment levels and hours worked.
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 in to or navigating the website, please contact Brett at 706-216-2140 or Brett@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.