The NY Empire State Manufacturing Index rose to -14.3 in April 2024 from -20.9 in the previous month, but it remained below the market consensus of -9.0. The reading suggested that business activity declined for a fifth consecutive month in New York State, with both new orders and shipments falling significantly and unfilled orders continuing to shrink. Delivery times shortened, and inventories edged higher. Labor market conditions remained weak, with both employment and hours worked moving lower. On the price front, input cost inflation picked up somewhat, while selling price inflation held steady. Finally, business optimism remained subdued, though firms expected conditions to improve over the next six months. source: Federal Reserve Bank of New York

NY Empire State Manufacturing Index in the United States increased to -14.30 points in April from -20.90 points in March of 2024. NY Empire State Manufacturing Index in the United States averaged 6.94 points from 2001 until 2024, reaching an all time high of 43.00 points in July of 2021 and a record low of -78.20 points in April of 2020. This page provides the latest reported value for - United States NY Empire State Manufacturing Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States NY Empire State Manufacturing Index - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

NY Empire State Manufacturing Index in the United States increased to -14.30 points in April from -20.90 points in March of 2024. NY Empire State Manufacturing Index in the United States is expected to be -2.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-15 12:30 PM
NY Empire State Manufacturing Index
Mar -20.9 -2.4 -7 -5
2024-04-15 12:30 PM
NY Empire State Manufacturing Index
Apr -14.30 -20.90 -9 -10
2024-05-15 12:30 PM
NY Empire State Manufacturing Index
May -14.3 -8

Components Last Previous Unit Reference
NY Empire State Employment Index -7.10 -0.20 points Mar 2024
NY Empire State New Orders Index -17.20 -6.30 points Mar 2024
NY Empire State Prices Paid Index 28.70 33.00 points Mar 2024
NY Empire State Shipments Index -6.90 2.80 points Mar 2024

Related Last Previous Unit Reference
NY Empire State Manufacturing Index -14.30 -20.90 points Apr 2024

United States NY Empire State Manufacturing Index
New York Empire State Manufacturing Index is based on data compiled from the survey of 200 executives from the companies in the manufacturing sector in the New York State. Participants report the change in 11 indicators including level of general business activity, new orders, shipments, inventories, number of employees, delivery time, capital expenditure from the previous month and the likely direction of these indicators in six months. A reading above 0 indicates manufacturing activity is expanding, below 0 is contracting.
Actual Previous Highest Lowest Dates Unit Frequency
-14.30 -20.90 43.00 -78.20 2001 - 2024 points Monthly
SA

News Stream
NY State Business Activity Continues to Decline
The NY Empire State Manufacturing Index rose to -14.3 in April 2024 from -20.9 in the previous month, but it remained below the market consensus of -9.0. The reading suggested that business activity declined for a fifth consecutive month in New York State, with both new orders and shipments falling significantly and unfilled orders continuing to shrink. Delivery times shortened, and inventories edged higher. Labor market conditions remained weak, with both employment and hours worked moving lower. On the price front, input cost inflation picked up somewhat, while selling price inflation held steady. Finally, business optimism remained subdued, though firms expected conditions to improve over the next six months.
2024-04-15
Factory Activity in NY Falls More Than Expected
The NY Empire State Manufacturing Index sank to -20.9 in March 2024 from -2.4 in February and much worse than forecasts of -7. The reading showed manufacturing activity continued to decline in the New York State, with demand softening as new orders declined significantly (-17.2 vs -6.3), and shipments were lower (-6.9 vs 2.8). Also, unfilled orders continued to shrink (-10.9 vs -9.6), delivery times were little changed (-1 vs -3.2) and inventories declined (-12.9 vs -9.6). Meanwhile, labor market indicators weakened, as employment (-7.1 vs -0.2) and hours worked (-10.4 vs -4.7) both decreased. On the price front, the pace of input price increases moderated somewhat (28.7 vs 33), while the pace of selling price increases held steady (17.8 vs 17). Finally, firms expect conditions to improve over the next six months, though optimism remained subdued.
2024-03-15
Manufacturing Activity in NY Shrinks Less Than Expected
The NY Empire State Manufacturing Index climbed to -2.4 in February 2024 from -43.7 in January 2024 and compared to market forecasts of -15. Still, the reading remained contractionary, as new orders declined modestly (-6.3 vs -49.4) and unfilled orders continued to shrink (-9.6 vs -24.2). On the other hand, shipments edged higher (2.8 vs -31.3). Also, delivery times shortened (-3.2 vs -8.4) and inventories declined (-9.6 vs -7.4). Employment (-0.2 vs -6.9) held steady, and the average workweek fell (-4.7 vs -6.1). Meanwhile, the pace of input price increases picked up for the second month (33 vs 23.2), and the pace of selling price increases also accelerated (17 vs 9.5). Finally, optimism stayed subdued although firms expect conditions to improve over the next six months (21.5 vs 18.8). The capital spending index was little changed at 11.7, suggesting capital spending plans remained somewhat soft.
2024-02-15