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Monday, November 16, 2020

NY Fed: Manufacturing: Business activity "expanded slightly" in New York State in November

by Calculated Risk on 11/16/2020 09:07:00 AM

From the NY Fed: Empire State Manufacturing Survey

Manufacturing activity in New York State expanded only to a small degree in November. After falling seven points last month, the general business conditions index fell four points to 6.3 this month, indicating that growth continued to slow.
The index for number of employees rose two points to 9.4, its highest level in nearly a year, indicating a modest increase in employment levels. After rising sharply last month, the average workweek index fell eleven points to 4.8, its positive value signaling a small increase in hours worked.
emphasis added
This was well below expectations, and showed activity "expanded slightly" in November.