New York-area manufacturing survey
- Prior was +10.5
Details:
- new orders index 3.7 vs. 12.3 last month
- shipments 6.3 vs. 17.8 last month
- number of employees 9.4 vs. 7.2 last month
- average workweek 4.8 vs. 16.1 last month
- unfilled orders -11.9 vs. -6.6 last month
- prices paid 46.4 vs. 27.8 last month
- prices receives 23.2 vs. 5.3 last month
- inventories -8.6 vs. -14.6 last month
- six-month index 33.6 vs 32.8
- Full report
This isn't a big red flag but this is the first manufacturing data point of the month and it shows some unexpected softness, particularly in orders. The worry would be that the pull-forward and pandemic sales are starting to fade but it's way too premature to worry about that.
