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Empire State Manufacturing Survey

February 2019 Empire State Manufacturing Survey

 

 

The results for the February 2019 Empire State Manufacturing Survey are in, and they’re more positive than January. The general business conditions index increased after falling eight points in January to its lowest point in well over a year.

Business activity grew modestly in New York State, according to firms responding to the February 2019 Empire State Manufacturing Survey. The headline general business conditions index moved up five points to 8.8. New orders and shipments also increased modestly. Delivery times were slightly longer, and inventories held steady. Labor market indicators pointed to a slight increase in employment and hours worked. The prices paid index moved lower for a third consecutive month, indicating an ongoing deceleration in input price increases, while the prices received index climbed ten points to reach its highest level in several months, indicating a pickup in selling price increases.

The Empire State Manufacturing Survey also asks manufacturers to provide a six-month outlook, which improved significantly from January. Firms are fairly optimistic about future conditions after slumping last month.

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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2018’s Final Empire State Manufacturing Survey

Federal Reserve

 

The results from the last Empire State Manufacturing Survey of 2018 are in! New York Manufacturers are remaining optimistic about 2019 but they are slightly more tempered than in November.

Business activity grew at a slower pace than in recent months in New York State, according to firms responding to the December 2018 Empire State Manufacturing Survey. The headline general business conditions index fell twelve points to 10.9. New orders increased modestly, while shipments continued to climb significantly. Delivery times lengthened slightly, and inventories moved higher. The employment index rose twelve points to 26.1, indicating that employment grew strongly, and hours worked increased modestly. The prices paid index, while still elevated, moved down five points, and the prices received index held steady. Looking ahead, firms remained fairly optimistic about the six-month outlook.

Each January the survey goes through revisions to prepare for the upcoming year. All data undergoes a benchmark revision in December to reflect new seasonal factors. The diffusion indexes are each tested for seasonality and adjusted accordingly if patterns are found.

2019 will most definitely be an interesting year for the manufacturing industry. The exponential growth in technology and innovation will undoubtably have an impact on the industry. We look forward to finding out what’s in store.

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

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