Friday, June 15, 2012

NY Fed: Regional manufacturing activity "expanded slightly" in June Survey

by Bill McBride on 6/15/2012 08:30:00 AM

From the NY Fed: Empire State Manufacturing Survey

The June Empire State Manufacturing Survey indicates that manufacturing activity expanded slightly over the month. The general business conditions index fell fifteen points, but remained positive at 2.3. The new orders index declined six points to 2.2, and the shipments index fell a steep nineteen points to 4.8. Price indexes were markedly lower, with the prices paid index falling eighteen points to 19.6 and the prices received index dropping eleven points to 1.0. Employment indexes also retreated, though they still indicated a small increase in employment levels and a slightly longer average workweek.
The employment index declined to 12.4 from 20.5.

This is the first regional manufacturing survey released for June, and this was well below the consensus forecast of 13.8.