Widget Image
Follow PPD Social Media
Follow Us:
People's Pundit Locals Community
Thursday, January 20, 2022
HomeNewsEconomyEmpire State Manufacturing Survey Expands Slightly in June

Empire State Manufacturing Survey Expands Slightly in June


Surveys gauging manufacturing growth or contraction in Empire State. (REUTERS)

The New York Federal Reserve said Wednesday the Empire State Manufacturing Survey, a gauge of manufacturing activity in the Northeast, expanded slightly in June. The headline general business conditions index increased by 15 points to 6.0, climbing out of contraction territory (-9.02).

The new orders index and the shipments index rose from negative values to 10.9 and 9.3, respectively—a sign that orders and shipments were increasing after last month’s decline. The inventories index fell to -15.3, indicating that inventories were lower, and the employment index was zero, signaling that employment counts were unchanged.

The prices paid index held steady at 18.4, suggesting that moderate input price increases were continuing, and the prices received index was near zero, indicating that selling prices were stable. Firms were more optimistic about the six-month outlook this month, and capital spending plans picked up.

The employment index was largely unchanged, but tilted negative. It came in at a reading of zero, suggesting that employment levels remained flat, which we’ve seen now as a pattern since February. At -5.1, the average workweek index showed that hours worked declined this month.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial