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- Manufacturing activity in the New York region improves less than forecast in December
Manufacturing activity in the New York region improves less than forecast in December
The report from
the New York Federal Reserve showed on Monday that manufacturing activity in
the New York region improves slightly in December.
According to
the survey, NY Fed Empire State manufacturing index came in at 3.5 this month
compared to an unrevised 2.9 in November, remaining subdued for the seventh
consecutive month.
Economists had
expected the index to come in at 4.0.
Anything below
zero signals contraction.
According to
the report, the new orders index edged
down three points to 2.6, indicating little change in orders, while the
shipments index inched up three points to 11.9, indicating that shipments
increased modestly. Meanwhile, unfilled orders dropped six points to -13.8,
indicating that unfilled orders continued to decline, delivery times shortened,
and inventories held steady. The index for number of employees was unchanged at
10.4, indicating that employment expanded for the fourth consecutive month. On
the price front, input price increases continued to slow, with the prices paid
index falling five points to 15.2, a multi-year low.
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