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Your March 2019 Empire State Manufacturing Survey Results

 

The results for the March 2019 Empire State Manufacturing Survey suggest that business activity grew only slightly in the last month.

The headline general business conditions index fell five points to 3.7. New orders increased only marginally, while shipments grew modestly. Delivery times and inventories held steady. Labor market indicators pointed to an increase in employment, but a small decline in hours worked. The prices paid index moved higher for the first time in four months, pointing to a pickup in input price increases, while the prices received index moved lower, indicating a slowing in selling price increases.

Firms continue to be optimistic in their six-month outlooks, however optimism was slightly lower than last month.

The index for future business conditions edged down three points to 29.6. The indexes for future new orders and shipments were also somewhat below last month’s levels. Firms expected solid increases in employment and hours worked in the months ahead. The capital expenditures index was little changed at 28.3, and the technology spending index came in at 20.3.

Read the full report for a more detailed look at the results. 

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2019’s First Empire State Manufacturing Survey

 

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.

Read the full report for a more detailed look at the results.

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