Monday, April 15, 2019

NY Fed: Manufacturing "Business activity grew modestly in New York State"

by Calculated Risk on 4/15/2019 08:40:00 AM

From the NY Fed: Empire State Manufacturing Survey

Business activity grew modestly in New York State, according to firms responding to the April 2019 Empire State Manufacturing Survey. The headline general business conditions index rose six points to 10.1, indicating that growth picked up somewhat but remained fairly subdued. New orders rose slightly, and shipments continued to grow modestly. Delivery times and inventories both increased. Labor market indicators pointed to ongoing employment gains and a small increase in hours worked.

Optimism about the six-month outlook was much lower than last month. The index for future business conditions dropped seventeen points to 12.4—its lowest level in more than three years.
emphasis added
This was slightly above the consensus forecast.