Post: Mar. 28, 2019
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.
Post: Feb. 15, 2019
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.
Post: Sep. 21, 2018
The results for the September 2018 Empire State Manufacturing Survey are in, and once again firms are reporting solid growth. The industry has remained relatively steady throughout recent years, and firms are remaining optimistic about their six-month outlook. The survey indicates that new orders and shipments are up, and the labor market pointed to an increase in employment levels.
The headline general business conditions index showed ongoing strength, but moved down seven points to 19.0, pointing to a slower pace of growth than last month. New orders and shipments grew moderately. Delivery times continued to lengthen, and inventories moved higher. Labor market indicators pointed to an increase in employment levels and longer workweeks. Price indexes were little changed and remained elevated, suggesting ongoing significant increases in both input prices and selling prices. Looking ahead, firms remained fairly optimistic about the six-month outlook.
Read the full report for a more detailed look at the results.
Post: Aug. 20, 2018
The August 2018 results for the Empire State Manufacturing Survey once again indicate robust growth. Results have been overwhelmingly positive since the start of 2018. This is great news for Manufacturers in the Hudson Valley, and the optimistic projections for the future imply more good news is on the way.
Business activity remained robust in New York State, according to firms responding to the August 2018 Empire State Manufacturing Survey. The headline general business conditions index climbed three points to 25.6. New orders and shipments grew strongly, and firms reported an increase in unfilled orders. Delivery times continued to lengthen, and inventories held steady. Labor market indicators pointed to solid gains in employment and longer workweeks. Price indexes were little changed and remained elevated, indicating ongoing significant price increases. Looking ahead, firms stepped up their capital spending plans and were fairly optimistic about the six-month outlook.
Read the full report for more!
Post: Jul. 20, 2018
Each month the Federal Reserve Bank of New York distributes the Empire State Manufacturing Survey to about 200 manufacturing companies throughout New York State to analyze industry performance. Around 100 of the 200 companies contacted complete the questionnaire, which asks them to report on specific performance indicators and offer their projections for the upcoming months. The respondents are from diverse sectors of the manufacturing industry, providing an unbiased and accurate pool of feedback. Since the start of 2016 these surveys have generated consistently positive results.
The July 2018 results indicate that business activity continues to grow at a steady pace throughout the state. Labor market indicators point to sturdy growth, and the prices received index signals continued moderate increases in selling prices. The headline general business conditions index also still remains at a high level. These results are promising, and the positive forecasts coming from these companies suggest that robust growth is likely in store for the near future.
You can see the full report with survey results here.
