September NY Manufacturing index highlights
The US empire manufacturing came in weaker than expected at 19 vs 23.0 expected.
- New orders 16.5 vs 17.1 last month
- Employment 13.3 vs 13.1 last month
- prices paid index 46.3 versus 45.2 last month
- factory shipments 14.3 versus 25.7
- 6 month business conditions index 30.3 versus 34.8 last month
In their own words:
Business activity continued to grow at a solid clip in New York State, according to firms responding to the September 2018 Empire State Manufacturing Survey.
The headline general business conditions index showed ongoing strength, but moved down seven points to 19.0, pointing to a slower pace of growth than last month.
- New orders and shipments grew moderately.
- Delivery times continued to lengthen, and inventories moved higher.
- Labor market indicators pointed to an increase in employment levels and longer workweeks.
- Price indexes were little changed and remained elevated, suggesting ongoing significant increases in both input prices and selling prices.
- Looking ahead, firms remained fairly optimistic about the six-month outlook.
