Prior month index 10.9 revised higher to 11.5
Empire Manufacturing has a big mess in January at 3.9 versus 10.0 estimate
- Prior report
- Empire manufacturing 3.9 versus 10.0 estimate. Prior month revised higher to 11.5 from 10.9
- current business condition index at lowest since May 2017
- new orders index 3.5 versus revised 13.4 in December
- employment index 7.4 versus revised 17.5 in December
- prices paid index 35.9 versus 39.7 in December
- shipments 17.9 versus 20.3 in December
- delivery times -2.1 versus 3.2 in December
- inventories -7.6 versus 7.1 in December
- unfilled orders -7.6 versus -5.1 in December
- average workweek 6.8 versus 6.7 in December
- 6 month business condition index 17.8 in January verse revised 30.6 in December
The index is down sharply from the 21.4 reading in November. The high for 2018 was at 24.4. The low was Decembers revised reading at 11.5. Although hanging on to the above 0 reading, the sharp fall from the November high is somewhat telling for the region.
6 month business conditions also fell sharply. The index for future business conditions fell thirteen points to 17.8, and the indexes for future new orders and shipments also declined. Firms expected employment to increase modestly. The capital expenditures index (not good for productivity gains) fell thirteen points to 17.9, and the technology spending index moved down six points to 20.0.
