Monday, July 15, 2013 8:55:43 AM
Empire State Mfg Survey - beat
Released On 7/15/2013 8:30:00 AM For Jul, 2013
Prior Consensus Consensus Range Actual
General Business Conditions Index - Level 7.84 5.00 1.00 to 10.00 9.46
Highlights
Activity has picked up nicely so far this month in New York state's manufacturing economy, based on the Empire State index which came in at a very solid 9.46 to indicate a very brisk rate of monthly growth. Details do show a little bit less strength than the headline index with new orders showing a much softer rate of monthly growth at 3.77. But shipments, at 8.96, show strong growth while delivery times slowed which indicates a little bit of congestion in the supply chain which is consistent with rising activity.
Companies in the sample are also adding slightly to their workforces, indicating confidence in their outlook for business activity. The six-month outlook in fact jumped more than 7 points to a very impressive looking 32.01.
The manufacturing sector hit a flat spot in the early spring but indications since point to an early summer uplift. Next report on manufacturing will be tomorrow with the industrial production report for June.
Released On 7/15/2013 8:30:00 AM For Jul, 2013
Prior Consensus Consensus Range Actual
General Business Conditions Index - Level 7.84 5.00 1.00 to 10.00 9.46
Highlights
Activity has picked up nicely so far this month in New York state's manufacturing economy, based on the Empire State index which came in at a very solid 9.46 to indicate a very brisk rate of monthly growth. Details do show a little bit less strength than the headline index with new orders showing a much softer rate of monthly growth at 3.77. But shipments, at 8.96, show strong growth while delivery times slowed which indicates a little bit of congestion in the supply chain which is consistent with rising activity.
Companies in the sample are also adding slightly to their workforces, indicating confidence in their outlook for business activity. The six-month outlook in fact jumped more than 7 points to a very impressive looking 32.01.
The manufacturing sector hit a flat spot in the early spring but indications since point to an early summer uplift. Next report on manufacturing will be tomorrow with the industrial production report for June.
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