by Bill McBride on 4/16/2012 04:03:00 PM
Monday, April 16, 2012
Catching up: This was released earlier from the NY Fed: April's Empire State Manufacturing Survey indicates manufacturing activity in New York State improved modestly
April’s Empire State Manufacturing Survey indicates that manufacturing activity in New York State improved modestly. Although the general business conditions index fell fourteen points, it remained positive at 6.6. The new orders and shipments indexes also remained positive, but showed only a small increase in orders and shipments. The prices paid index inched downward but remained high, and the prices received index climbed six points to 19.3. The index for number of employees rose to its highest level in nearly a year, indicating a significant increase in employment levels, while the average workweek index fell to a level that indicated only a small increase in hours worked. Future indexes remained quite positive, suggesting a strong and persistent degree of optimism about the six month outlook.The general business index was down sharply to 6.56 from 20.21 in March, and was significantly below the consensus forecast of 18.
The employment index was up to 19.28 from 13.58 in March.
Posted by Bill McBride on 4/16/2012 04:03:00 PM