Friday, December 15, 2017

NY Fed: Manufacturing Activity grew at a "solid clip" in December

by Bill McBride on 12/15/2017 08:39:00 AM

From the NY Fed: Empire State Manufacturing Survey

Business activity continued to grow at a solid clip in New York State, according to firms responding to the December 2017 Empire State Manufacturing Survey. The headline general business conditions index, at 18.0, remained close to last month’s level. The new orders index and the shipments index both showed sustained strong gains, with the former holding steady at 19.5 and the latter edging up to 22.4. ...
Labor market indicators pointed to a small increase in employment but no change in hours worked. ...

The index for future business conditions fell three points to 46.6. After advancing to its highest level in several years last month, the index for future new orders declined thirteen points to 41.1. The index for future number of employees rose eight points to 29.0, its highest level in nearly a year, and the capital expenditures index climbed nine points to 34.1, a multiyear high.
emphasis added
This was at the consensus forecast of a reading of 18.0.