NEW YORK - The Empire State Manufacturing Survey showed “manufacturing activity improved in New York State in December,” the Federal Reserve Bank of New York reported Thursday as the general business conditions index improved to 9.53 in November from 0.61 in November.
Economists surveyed by Thomson Reuters had expected the index would rise to 3.00.
The new orders index grew to positive 5.10 from negative 2.07, while the shipments index rose to 20.87 from 9.43, and unfilled orders declined to negative 15.12 from negative 7.32, the Fed said.
The delivery time index held at zero, while the inventories index increased to negative 3.49 from negative 12.20 in the prior survey. The prices paid index rose to 24.42 from 18.29, while the prices received index slipped to 3.49 from 6.10. The number of employees index reversed to positive 2.33 from negative 3.66, while the average employee workweek index dropped to negative 2.33 from positive 2.44, the Fed reported.
Looking six months into the future, the general business conditions index surged to 52.33 from 39.02 last month. The new orders index soared to 54.65 from 35.37, while the shipments index climbed to 51.16 from 36.59, and unfilled orders gained to 8.14 from 6.10, the Fed said. The delivery time index crept to 2.33 from 1.22, while the inventories index jumped to 9.30 from 2.44.
The prices paid index increased to 56.98 from 36.59, while the prices received index rose to 36.05 from 25.61. The number of employees index gained to 24.42 from 14.63, while the average employee workweek index increased to 22.09 from 8.54, the Fed reported. The capital expenditures expectations index dipped to 23.26 from 25.61. The technology spending index rose to 15.12 from 12.20.
