Friday, November 15, 2013 9:06:53 AM
Empire State Mfg Survey
Released On 11/15/2013 8:30:00 AM For Nov, 2013
Prior Consensus Consensus Range Actual
General Business Conditions Index - Level 1.52 5.5 3.0 to 7.5 -2.21
Highlights
General conditions have turned negative this month, at least slightly negative, in the New York manufacturing region where the index fell to minus 2.21 in the November reading vs 1.52 in October. Though the degree of change is slight, the breadth of change is wide with negatives sweeping the monthly readings. New orders are at minus 5.53 with unfilled orders at a very steep minus 17.11. Lack of orders points to further declines in other readings including shipments, currently at minus 0.53, and employees, at zero this month.
Price pressures are easing slightly with finished prices turning into the negative column at minus 3.95. This is consistent with the loose conditions in the region.
But this is only the first time since April that the Empire State index is in the minus column, which may point more to a flattening in growth not a reversal. Later this morning at 9:15 a.m. ET on the Econoday calendar the industrial production report will be posted which will offer definitive data on nationwide shipments during October.
Released On 11/15/2013 8:30:00 AM For Nov, 2013
Prior Consensus Consensus Range Actual
General Business Conditions Index - Level 1.52 5.5 3.0 to 7.5 -2.21
Highlights
General conditions have turned negative this month, at least slightly negative, in the New York manufacturing region where the index fell to minus 2.21 in the November reading vs 1.52 in October. Though the degree of change is slight, the breadth of change is wide with negatives sweeping the monthly readings. New orders are at minus 5.53 with unfilled orders at a very steep minus 17.11. Lack of orders points to further declines in other readings including shipments, currently at minus 0.53, and employees, at zero this month.
Price pressures are easing slightly with finished prices turning into the negative column at minus 3.95. This is consistent with the loose conditions in the region.
But this is only the first time since April that the Empire State index is in the minus column, which may point more to a flattening in growth not a reversal. Later this morning at 9:15 a.m. ET on the Econoday calendar the industrial production report will be posted which will offer definitive data on nationwide shipments during October.
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