Economy
Modest Expansion for NY Manufacturers in January
Written by Sandy Williams
January 15, 2020
Manufacturing in New York State expanded modestly in January. The Empire State Manufacturing Survey’s general business conditions index gained 1.5 points to post 4.8 for the month.
Shipments posted 8.6, down one point from December, but new orders gained 4.9 points to post 8.6.
Unfilled orders continued to decline, delivery times were shorter, and inventories held steady in January.
Prices increased noticeably, said the Federal Reserve Bank of New York. “After falling to a multi-year low last month, the prices paid index rose 16 points to 31.5, and the prices received index climbed 10 points to 14.4.”
Firms remained uncertain in the six-month outlook. The index for future business conditions dipped three points to 23.6, but future shipments climbed five points to 32.7. Modest increases in employment and hours worked are expected.
Commented MarketWatch: “The headline index has been in a narrow range since the middle of 2019. Overall, the factory sector continued to struggle, hurt by international trade worries, a pull-back in spending and Boeing Co.’s issues over its grounded 737 Max airplane.”
Data is compiled from a survey of about 200 manufacturers in New York state. A level above 0.0 indicates improving conditions, below indicates worsening conditions.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Chicago Business Barometer rises in January
Despite the gain, the index remains below both the levels of November 2024 and the 2024 average.
CSPA asks Canadian government to work against potential tariffs
The Canadian Steel Producers Association (CSPA) has urged Canada to engage with the US administration to avoid the tariffs threatened by the Trump administration by Feb. 1. “The imposition of tariffs on Canadian goods will have an incredibly disruptive impact on our integrated North American supply chains and on our workers and their families,” François […]
Trump reverses course on Colombia tariffs
The Trump administration has backed off tariffs on Colombia after the White House said the leader of the Latin American nation agreed to President Trump’s demands. “The Government of Colombia has agreed to President Trump’s terms, including the unrestricted acceptance of illegal aliens from Colombia returned from the United States… without limitation or delay,” according […]
Price: New administration sets roadmap for trade, manufacturing
Day One of the second Trump administration did not bring tariffs, but it did signal that tariffs, and other major trade actions, are not far off.
Architecture firm billings fell in December on market uncertainty
Architecture firms reported a sharp reduction in billings in December, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.