Prior month for Empire Manufacturing 3.9
The empire manufacturing index rose to 8.8 vs 7.0 estimate. That was better than the 3.9 reading last month.
- Employment 4.1 versus 7.4 last month. the index was at 17.5 in December
- average workweek 2.5 versus 6.8 last month
- new orders 7.5 versus 3.5 last month
- prices paid 27.1 versus 35.9 last month
- prices received 22.9 versus 13.1 last month
- shipments 10.4 versus 17.9 last month
The general business condition index 6 months ahead rose to 32.3 from 17.8 suggesting more confidence in the future
- employment 19.1 versus 18.5 last month
- average workweek 16.4 versus 1.4 last month
- new orders 35.7 versus 19.5 last month
- shipments 35.1 versus 22.4 last month
- prices paid 37.1 versus 47.6 last month
- prices received 30.7 versus 28.3
Overall better than expected and higher expectations for down the road. The index did reach the 2 year low last month. The rebound is welcome.
I wonder how Amazon nixing the Long Island City new headquarters might impact the survey next month?
