NEW YORK - The Empire State Manufacturing Survey showed “conditions improved in December for New York State manufacturers,” the Federal Reserve Bank of New York today reported, as the general business conditions index reversed to positive 10.57 in the month from negative 11.14 in November, the Fed reported.
Economists surveyed by Thomson Reuters had expected the index would rebound to positive 5.0.
The new orders index surged to positive 2.60 from negative 24.38, while the shipments index jumped to positive 7.11 from negative 6.13, and unfilled orders improved to negative 18.18 from negative 24.68, the Fed said.
The delivery time index narrowed to negative 6.82 from negative 9.09, while the inventories index decreased to negative 15.91 from zero in the prior survey. The prices paid index grew to 28.41 from 22.08, while the prices received index rose to positive 3.41 from negative 2.60. The number of employees index decreased to negative 3.41 from positive 9.09, while the average employee workweek index declined to negative 14.77 from negative 12.99, the Fed reported.
Looking six months into the future, the general business conditions index decreased to 48.86 from 54.55 last month. The new orders index rose to 53.41 from 53.25, while the shipments index gained to 53.41 from 45.45, and unfilled orders increased to 14.77 from 12.99, the Fed said. The delivery time index rebounded to positive 4.55 from negative 2.60, while the inventories index decreased to negative 1.14 from positive 12.99.
The prices paid index rose to 57.95 from 40.26, while the prices received index grew to 38.64 from 35.06. The number of employees index rose to 29.55 from 28.57, while the average employee workweek index gained to 17.05 from 12.99, the Fed reported. The capital expenditures expectations index dipped to 22.73 from 23.38. The technology spending index soared to 19.32 from 10.39.
