Tag: empire state manufacturing survey

Manufacturing activity slows across state while employment grows, survey shows  

Manufacturing activity contracted in New York in December, according to the Federal Reserve Bank of New York’s Empire State Manufacturing survey. 

The general business conditions index fell sixteen points to -11.2.  

Twenty-three percent of respondents reported that conditions had improved over the month and thirty-four percent reported that conditions had worsened.  

The new orders index held steady at -3.6, pointing to another small decline in orders, while the shipments index slipped three points to 5.3, indicating a small increase in shipments.  

The unfilled orders index moved down to -11.2. The delivery times index came in at 1.9, indicating that delivery times were little changed. After rising sharply last month, the inventories index retreated to 3.7.

The index for number of employees edged up to 14.0, marking another month of employment gains. The average workweek index, however, fell to -4.5, signaling a small decline in hours worked.  

The prices paid index held steady at 50.5 and the prices received index remained similar to last month’s level at 25.2.  

The index for future business conditions climbed twelve points, but remained subdued at 6.3, suggesting that firms expect little improvement over the next six months.  

The indexes for future new orders and shipments climbed above zero, indicating that small increases are anticipated, and employment is expected to continue to increase. The capital spending index rose nine points to 23.4. 

[email protected] / (585) 653-4021 

Business holds steady for New York manufacturers, but little optimism about the near-term, survey shows 

Business activity held steady in New York in September on the heels of a sharp decline last month, according to firms responding to the September Empire State Manufacturing Survey. 

Business steady in September for New York manufacturers, survey showsThe general business conditions index climbed thirty points to -1.5. Thirty percent of respondents reported that conditions had improved over the month and thirty-two percent reported that conditions had worsened.  

The new orders index climbed thirty-three points to 3.7, indicating a slight increase in orders, while the shipments index surged forty-four points to 19.6, pointing to a rebound in shipments after they declined significantly last month.  

The unfilled orders index came in at -7.5, indicating that unfilled orders shrank for a fourth consecutive month. The delivery times index hovered near zero for a second consecutive month, while the inventories index edged up to 9.4.  

The index for the number of employees was little changed at 9.7 and the average workweek index climbed to around zero.  

The prices paid index fell sixteen points to 39.6; this index has fallen a cumulative thirty-nine points over the past three months, pointing to a significant and ongoing deceleration in price increases. The prices received index fell nine points to 23.6, its lowest level since early 2021.  

The index for future business conditions rose six points to 8.2, suggesting little optimism about the six-month outlook.  

The index for future new orders remained depressed, though employment is expected to pick up. Delivery times are expected to be shortened and moderate increases in capital and technology spending are planned for the months ahead, respondents reported.  

[email protected] / (585) 653-4021 

Report: Manufacturing on the rise across New York

empire-state-mfg-report-march-2021

Manufacturing in New York state grew at a steady pace in March, a monthly report from the Federal Reserve Bank of New York shows.

The headline general business conditions index climbed five points to 17.4, its highest level since last summer. New orders increased modestly, while shipments were up substantially. Delivery times continued to lengthen, according to the March Empire State Manufacturing Survey, and inventories were somewhat higher.

The index for number of employees was little changed at 9.4, indicating ongoing modest gains in employment, but the index for future employment rose to its highest level in more than 10 years, suggesting that firms widely expect to increase employment in the months ahead.

The prices paid index rose seven points to 64.4, reaching its highest level in a decade, pointing to sharp input price increases. The prices received index was flat from last month’s two-year high, pointing to ongoing selling price increases.

The index for future shipments increased to 46.5 in March. The index for future inventories rose to a multi-year high, and both the future prices paid and prices received indexes continued their upward trend. The index for future employment rose to its highest level in more than a decade, suggesting that firms widely expect to increase employment in the months ahead. The capital expenditures index came in at 26.8, while the technology spending index was 20.1.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

Report: Manufacturing activity plummets across state

Manufacturing business activity plummeted in New York State in early April, according to firms responding to the April 2020 Empire State Manufacturing Survey.

Empire State Manufacturing Survey April 2020
Empire State Manufacturing Survey April 2020

The headline general business conditions index dropped 57 points to -78.2, its lowest level in the history of the survey — by a wide margin. The lowest level this indicator had reached prior to April was -34.3 during the Great Recession. Seven percent reported that conditions improved over the month, while 85% reported that conditions had worsened.

The new orders index fell 57 points to -66.3, and the shipments index dropped 66 points to -68.1, according to the report. Delivery times were longer and inventories were modestly lower.

Labor market indicators were extremely weak. The index for number of employees fell 54 points to -55.3, with nearly 60% of respondents indicating lower employment levels. The prices received index fell to -8.4, pointing to a decline in selling prices for the first time since 2016.

Looking ahead, manufacturers anticipate only a small improvement in business conditions over the next six months. The index for future business conditions edged up six points to 7.0. The indexes for future new orders and future shipments declined, but remained positive, suggesting that firms expect orders and shipments to be modestly higher in six months compared with this month’s levels.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

Manufacturing activity rebounds in February

Source: Federal Reserve Bank of New York
Source: Federal Reserve Bank of New York

Manufacturing activity across New York grew modestly in February, the latest Empire State Manufacturing Survey shows.

The headline general business conditions index moved up 5 points to 8.8, following a drop of eight points in January. Still, growth was at a significantly slower pace than last year. Some 32 percent of respondents to the monthly survey reported that conditions had improved over the month.

Employment growth among manufacturers this month fell for the second consecutive month, declining 3 points to 4.1. New orders and shipments increased modestly in February, while inventories held steady.

The prices paid fell for a third consecutive month, indicating an ongoing deceleration in input price increases, while the prices received index climbed 10 points to reach its highest level in several months.

Manufacturing firms were more optimistic about the six-month outlook in February compared with January. The index for future business conditions rose 15 points to 32.3, while the indexes for future new orders and shipments climbed to similar levels. Manufacturing firms expect employment and hours worked to increase at a solid pace in the coming months.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

Report: Manufacturing growth slows

Business activity grew slightly in New York in January, although the Empire State Manufacturing Survey’s general business conditions index fell 8 points.

Source: Federal Reserve Bank of New York
Source: Federal Reserve Bank of New York

At 3.9, the general business conditions index was at its lowest level in more than a year. New orders increased at a slower pace than in recent months, with 29.2 percent of manufacturing businesses reporting higher orders, compared with 34.7 percent in December.

Order shipments were flat in January, while higher inventories were reported by 15.2 percent of businesses, down from 30.1 percent in December. Some 41.4 percent of manufacturers reported higher prices in January, relatively stable from 41 percent in December. Higher prices received were reported by 20 percent of businesses this month, compared with 17.3 percent in December.

Staffing increased at a slower pace in January, with 15.4 percent reporting higher employee levels, down from 26.4 percent last month.

Optimism among manufacturers has waned, as firms were less optimistic about the six-month outlook than in recent months. The index for future business conditions fell 13 points to 17.8, and the indexes for future new orders and shipments also fell.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

Survey: Manufacturing conditions show ongoing strength

Empire State Manufacturing Survey general business conditions for September 2018
Empire State Manufacturing Survey general business conditions for September 2018

Manufacturing activity continued its steady growth in September, according to firms responding to the monthly Empire State Manufacturing Survey released by the Federal Reserve Bank of New York.

The headline general business conditions index showed a slower pace of growth in September, moving down 7 points to 19, but displayed ongoing strength. Forty percent of respondents reported that conditions had improved over the month, while 21 percent reported worsening conditions.

New orders were steady in September, with a 0.6 point decrease to 16.5, while the shipments index fell 11 points to 14.3. Both readings reflect moderate growth, officials noted. Unfilled orders increased, inventories climbed and delivery times continued to lengthen in September.

The index for the number of employees was little changed at 13.3 this month, indicating a modest increase. Price increases remained high, with prices paid rising to 46.3 and prices received falling to 16.3.

Firms remained moderately optimistic about the next six months, though the New York Fed reports that optimism in recent months has been more temperate than earlier this year. The index for future business conditions fell 5 points to 30.3, while the indexes for capital expenditures and technology spending also fell in September.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

Manufacturing activity strong statewide

August Empire State Manufacturing Survey General Business Conditions
August Empire State Manufacturing Survey General Business Conditions

Manufacturing activity remained robust in New York State this month, according to the August Empire State Manufacturing Survey, released yesterday by the Federal Reserve Bank of New York.

The headline general business conditions index climbed three points to 25.6 in August, while new orders was relatively flat at 17.1 and shipments soared 11 points to 25.7.

The prices paid index for August climbed 2.5 points to 45.2 and the prices received index fell 2.2 points to 20. Employment was down more than 4 points to 13.1 this month, but pointed to a pickup in employment levels, according to the report.

Looking ahead, firms remained moderately optimistic about the six-month outlook, though less so than earlier this year. The index for future business conditions increased four points to 34.8. The indexes for future unfilled orders and future delivery times both fell in August, suggesting that businesses expect fewer unfilled orders and shorter delivery times.

Employment is expected to increase in the months ahead, while the indexes for future prices remained elevated.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

Fed reports fall in manufacturing in May; other sources more sanguine

business-equipment-factory-357440U.S. manufacturing output fell in May, a new report from the Federal Reserve shows.

The report, issued Friday, shows that industrial production decreased 0.1 percent in May following a 0.9 percent increase in April. Manufacturing production fell 0.7 percent in May, primarily because truck assemblies were disrupted by a major fire at a parts supplier. Excluding motor vehicles and parts, factory output moved down 0.2 percent, the report shows.

The Fed’s monthly report often is revised. Indeed, other reports signal an improvement in manufacturing business activity in May and June.

The IHS Markit U.S. Manufacturing Purchasing Managers’ Index for May shows a marked improvement in business conditions across the U.S. manufacturing sector last month. The seasonally adjusted IHS Markit PMI registered 56.4 in May, roughly flat from 56.5 in April.

Factory output increased at a robust pace in May, according to the report, despite the rate of growth softening slightly. More favorable demand conditions and greater client demand were widely cited as driving the expansion of production.

Nationally, new orders increased sharply in May and the rate of growth was the second-fastest since September 2014, IHS Markit reported.

“The past two months have seen the strongest back-to-back improvements in order books since the fall of 2014, fueled by strengthening domestic demand,” IHS Chief Business Economist Chris Williamson said in a statement. “New orders have in fact now grown at a faster rate than output in each of the past five months, highlighting how producers have struggled to boost production to meet sales.”

Closer to home, the Federal Reserve Bank of New York’s Empire State Manufacturing Survey reports similar results in June. Manufacturing firms in New York State reported that business activity expanded at a faster pace than in May. The general business conditions index rose five points to 25, its highest level in several months.

Some 38 percent of respondents reported that conditions had improved over the month, while 13 percent reported that conditions had worsened. The new orders index ticked up five points to 21.3 in June and the shipments index rose four points to 23.5.

The index for number of employees climbed 10 points to 19, its highest level in 2018, signaling a pickup in employment levels.

After a downward trend in April, optimism about the future increased for the second consecutive month. The index for future business conditions climbed eight points to 38.9 in June, and employment was expected to increase in the months ahead, according to the report.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

N.Y. business activity up strongly in May, survey reports

blur-business-chart-159888Business activity across New York showed strong growth in May, according to firms responding to the Federal Reserve Bank of New York’s May Empire State Manufacturing Survey.

The general business conditions index climbed four points to 20.1, indicating a faster pace of growth than in April. Some 40 percent of respondents reported that conditions had improved since April, while 20 percent reported that conditions had worsened.

New orders rose seven points to 16, while the shipments index was flat at 19.1, suggesting ongoing growth in orders and shipments. Unfilled orders increased and inventories moved higher.

The prices paid index rose to its highest level in several years, indicating significant input price increases, and the prices received index remained high.

The index for number of employees edged up three points to 8.7, while the average workweek index fell to 11.1, readings indicating a modest increase in employment and hours worked.

Looking ahead, optimism about the six-month outlook increased, but fell short of levels enjoyed in recent months. The index for future business conditions, which plummeted to 18.3 in April after remaining above 40 for most of the past couple of years, regained 13 points to reach 31.1 in May.

Employment was expected to increase in the months ahead and the indexes for future prices remained elevated.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

Business activity in state shows growth

Workplace on wooden table with graph papersBusiness activity statewide continued to grow in April, but at a less brisk pace than in March, according to firms responding to the Federal Reserve Bank of New York’s March Empire State Manufacturing Survey.

At 15.8, the general business conditions index remained in positive territory, although it declined seven points from March, pointing to a somewhat slower pace of growth. Some 38 percent of respondents reported that conditions had improved over the month, while 22 percent reported that conditions had worsened.

The manufacturing survey showed the new orders index falling eight points to 9, while the shipments index fell 10 points to 17.5, indicating that orders and shipments expanded, but less so than in March.

The index for number of employees declined three points to 6, pointing to a modest increase in employment. The prices paid index fell three points to 47.4, slightly below last month’s multiyear high. The prices received index was flat at 20.7, a level suggesting ongoing moderate selling price increases.

Looking forward, optimism about the next six months plunged among manufacturing firms. The index for future business conditions slipped 26 points to 18.3, its lowest level more than two years. The index for future prices paid was little changed from March to April, while capital expenditures continued to decline to 25.2, suggesting that firms plan to increase capital spending in the months ahead.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

NYS business activity shows strong growth in March

Business intelligence using modern technologyBusiness activity statewide showed strong growth this month, according to firms responding to the Federal Reserve Bank of New York’s March Empire State Manufacturing Survey.

The general business conditions index climbed nine points to 22.3. Thirty-eight percent of respondents reported that conditions had improved over the month, while 15 percent reported worsening conditions.

The new orders index rose to 16.8, while the shipments index rose to 27, signaling strong growth in orders and shipments. Unfilled orders increased, delivery times lengthened and inventories edged higher, the New York Fed reported.

Labor market indicators showed an increase in employment and hours worked. The prices paid index moved higher, reflecting ongoing and widespread increases in input prices.

Looking ahead, manufacturing firms continued to be optimistic about the six-month outlook, though less so than in February. The index for future business conditions fell six points to 44.1. The capital expenditures index, at 29.4, suggests that firms’ capital spending plans remain strong.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

Business activity remains positive

Business activity continued to expand in New York State this month, a monthly survey from the Federal Reserve Bank of New York shows.

The general business conditions index fell five points to 13.1 in February, suggesting a somewhat slower pace of growth than in January. Thirty-seven percent of manufacturers reported that conditions had improved over the month, while 24 percent reported that conditions had worsened.

The new orders index and the shipments index were little changed in February, indicating ongoing growth in those areas. And while the inventories index declined, it remained positive at 4.9, suggesting that inventory levels were slightly higher.

The index for number of employees rose to 10.9, signaling a modest increase in employment levels. The prices paid index climbed 12 points to 48.6, its highest level in nearly six years, while the prices received index was flat at 21.5.

Looking ahead, firms continued to be optimistic about the six-month manufacturing outlook. The index for future business conditions edged up two points to 50.5, while the index for future prices paid stayed flat. Capital spending plans remained strong in February, the New York Fed reported.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

Business activity on the upswing

Business activity continued to improve this month, the Federal Reserve Bank of New York’s Empire State Manufacturing Survey shows.

General business conditions dipped slightly to 17.7 from 19.6 in December, but remained in positive territory, suggesting a continued expansion in manufacturing activity. Some 32 percent of respondents to the survey said business conditions had improved over the month, while 15 percent said conditions had worsened.

The new orders index was down seven points to 11.9, while the shipments index declined nine points to 14.4, indicating ongoing growth in orders and shipments, but at a slower pace in the last month.

The number of employees index fell 19 points to 3.8, a level that suggests a small increase in employment levels. The prices paid index climbed seven points to 36.2, while the prices received index increased 10 points to 21.7.

Firms surveyed in January remained optimistic about the six-month outlook. The index for future business conditions improved slightly to 48.6, while the index for future inventories rose to 20.3, a record high, indicating a buildup of inventories in the coming months.

The index for future number of employees rose three points to 26.9, a four-year high.

[email protected] / 585-653-4021
Follow Velvet Spicer on Twitter: @Velvet_Spicer

State business activity remains strong

Business activity showed strong growth in November, the Federal Reserve Bank of New York’s Empire State Manufacturing Survey shows.

Although the general business conditions index fell 11 points from October, it remained in positive territory at 19.4. The new orders index rose to 20.7 and the shipments index was 18.4, both indicating solid gains in orders and shipments.

Thirty-seven percent of manufacturers responding to the survey reported that conditions had improved over the month, while 17 percent reported that conditions had worsened.

The index for number of employees fell four points to 11.5, suggesting that employment expanded, though at a somewhat slower pace than in October.

Looking ahead, firms were very optimistic about the six-month outlook. The index for future business conditions climbed five points to 49.9, while the index for future new orders rose nine points to 53.7.

[email protected]/(585) 653-4021

Follow Velvet Spicer on Twitter: @Velvet_Spicer