January’s Empire State Manufacturing Survey results are showing slight growth, which is a promising start to 2019! Similar to last month though, growth is increasing at a much slower pace than previously.
Business activity grew slightly in New York State, according to firms responding to the January 2019 Empire State Manufacturing Survey. The headline general business conditions index fell eight points to 3.9, its lowest level in well over a year. New orders increased at a slower pace than in recent months, while shipments continued to climb significantly. Delivery times were slightly shorter, and inventories declined. Labor market indicators pointed to a modest increase in employment and hours worked. The prices paid index moved lower for a second consecutive month, indicating some slowing in input price increases, and the prices received index held steady.
We ended 2018 on a high note and responding manufacturers are still remaining fairly optimistic about the six-month outlook.