Wednesday, May 15, 2019

NY Fed: Manufacturing "Business activity picked up significantly in New York State"

by Calculated Risk on 5/15/2019 08:34:00 AM

From the NY Fed: Empire State Manufacturing Survey

Business activity picked up significantly in New York State, according to firms responding to the May 2019 Empire State Manufacturing Survey. The headline general business conditions index climbed eight points to 17.8, its highest level in six months. New orders and shipments also grew at a faster pace than in recent months. Delivery times held steady, and inventories moved slightly lower. Labor market indicators pointed to small increases in employment and hours worked.

The index for number of employees fell seven points to 4.7, a level indicating that employment increased only to a small degree. The average workweek index held steady at 4.4.
emphasis added
This was well above the consensus forecast.