By Kevin Kastner
WASHINGTON (MNI) – The Empire State Manufacturing Index rose to a
reading of 19.57 in June, after falling to 19.11 in May, according to
data released by the Federal Reserve Bank of New York Tuesday morning.
A Market News International survey of economists centered on a
reading of 20.0 for the June index, with a range of 15.0 to 25.0
The new orders measures rose to 17.53 in June from 14.30 in May,
while the shipments index jumped to 19.67 from 11.29, suggesting modest
expansion of growth.
The employment index, however, fell to 12.35 in June from 22.37 in
May, an indication that hiring growth slowed a bit in the region.
The only components in the report that were below zero were the
unfilled orders and inventory indexes.
The six-month outlook fell to 40.74 from 42.11 in May, a second
straight decline, but still suggesting very solid growth.
Other regional data are scheduled in the coming weeks ahead of the
national ISM readings in early-July. The next major regional release in
the Philadelphia Fed index, which is scheduled to be released on
Thursday, June 17.
** Market News International Washington Bureau: 202-371-2121 **