April Empire State Manufacturing Report: “Sturdy Pace” of Growth

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Manufacturing activity grew at a sturdy pace in New York State in April.

  • The general business conditions index rose nine points to 26.3, its highest level since well before the pandemic began. 
  • The new orders index shot up eighteen points to 26.9 and the shipments index climbed to 25.0, pointing to strong gains in orders and shipments.
  • Unfilled orders were notably higher.
  • The delivery times index surged seventeen points to 28.1, breaking the previous record by twelve points, pointing to significantly longer delivery times.
  • Inventories moved higher.
  • The index for number of employees increased five points to 13.9, and the average workweek index edged up to 12.7, indicating ongoing gains in employment and hours worked.
  • The prices paid index rose ten points to 74.7, its highest level since 2008, pointing to sharp input price increases.
  • The prices received index rose eleven points to 34.9, a record high, indicating that selling prices increased at the fastest pace in more than twenty years.

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