The Empire State Manufacturing Survey showed "business activity stabilized in New York State," the Federal Reserve Bank of New York reported Tuesday, as the general business conditions index reversed to positive 1.5 in November from negative 6.8 in October.
The new orders index grew to positive 3.1 from negative 5.6, while the shipments index rose to positive 8.5 from negative 0.6, and unfilled orders widened to negative 12.7 from negative 10.4, the Fed said.
The delivery time index narrowed to negative 5.5 from negative 11.3, while the inventories index declined to negative 23.6 from negative 12.3 in the prior survey. The prices paid index slipped to 15.5 from 22.6, while the prices received index decreased to 2.7 from 4.7. The number of employees index fell to negative 10. 9 from negative 4.7, while the average employee workweek index dropped to negative 10.9 from negative 10.4, the Fed reported.
Looking six months into the future, the general business conditions index declined to 29.9 from 36.0 last month. The new orders index slid to 28.7 from 39.0, while the shipments index dropped to 26.0 from 36.5, and unfilled orders narrowed to negative 6.4 from negative 11.3, the Fed said. The delivery time index reversed to positive 1.8 from negative 3.8, while the inventories index dropped to negative 10.0 from negative 0.9.
The prices paid index grew to 39.1 from 35.8, while the prices received index fell to 20.9 from 30.2. The number of employees index rose to 10.9 from 9.4, while the average employee workweek index gained to 10.0 from 4.7, the Fed reported. The capital expenditures expectations index slid to 12.7 from 13.2. The technology spending index dipped to 8.2 from 8.5.
