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United States NY Empire State Manufacturing Index

Last Release
Feb 29, 2024
Actual
-2.4
Units In
Points
Previous
-43.7
Frequency
Monthly
Next Release
Mar 15, 2024
Time to Release
27 Days 22 Hours
Highest
Lowest
Average
Date Range
Source
43
Jul 2021
-78.2
Apr 2020
7.12 Points2001-2024Federal Reserve Bank of New York
New York Empire State Manufacturing Index is based on data compiled from the survey of 200 executives from the companies in the manufacturing sector in the New York State. Participants report the change in 11 indicators including level of general business activity, new orders, shipments, inventories, number of employees, delivery time, capital expenditure from the previous month and the likely direction of these indicators in six months. A reading above 0 indicates manufacturing activity is expanding, below 0 is contracting. .

Latest Updates

The NY Empire State Manufacturing Index climbed to -2.4 in February 2024 from -43.7 in January 2024 and compared to market forecasts of -15. Still, the reading remained contractionary, as new orders declined modestly (-6.3 vs -49.4) and unfilled orders continued to shrink (-9.6 vs -24.2). On the other hand, shipments edged higher (2.8 vs -31.3). Also, delivery times shortened (-3.2 vs -8.4) and inventories declined (-9.6 vs -7.4). Employment (-0.2 vs -6.9) held steady, and the average workweek fell (-4.7 vs -6.1). Meanwhile, the pace of input price increases picked up for the second month (33 vs 23.2), and the pace of selling price increases also accelerated (17 vs 9.5). Finally, optimism stayed subdued although firms expect conditions to improve over the next six months (21.5 vs 18.8). The capital spending index was little changed at 11.7, suggesting capital spending plans remained somewhat soft.

United States NY Empire State Manufacturing Index History

Last 12 readings

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