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Tuesday, February 18, 2020

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

by Calculated Risk on 2/18/2020 08:56:00 AM

From the NY Fed: Empire State Manufacturing Survey

Business activity picked up in New York State, according to firms responding to the February 2020 Empire State Manufacturing Survey. The headline general business conditions index moved up eight points to 12.9. The new orders index shot up 16 points to 22.1, and the shipments index climbed to 18.9.
The index for number of employees edged down to 6.6, indicating that employment grew to a small degree. The average workweek held near zero, a sign that the average workweek was little changed.

Indexes assessing the six-month outlook suggested that optimism about future conditions was somewhat restrained.
emphasis added
This was higher than the consensus forecast.