The New York Empire State Manufacturing Index in the United States 7.6 points from the previous month to 3.9 in January of 2019 and below market expectations of 10.75. The reading pointed to the lowest gain in manufacturing in the NY state since May 2017, as new orders (3.5 from 13.4), employment (7.4 from 17.5), shipments (17.9 from 20.3) and prices paid (35.9 from 39.7) slowed. Additionally, inventories dropped (-7.6 from 7.1). Meanwhile, average workweek (6.8 from 6.7) and prices received (13.1 from 12.8) rose at a faster pace. Looking ahead, firms were less optimistic about the six-month outlook than in December. NY Empire State Manufacturing Index in the United States averaged 8.82 Index Points from 2001 until 2019, reaching an all time high of 39 Index Points in April of 2004 and a record low of -34.40 Index Points in February of 2009.
NY Empire State Manufacturing Index in the United States is expected to be 19.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate NY Empire State Manufacturing Index in the United States to stand at 15.00 in 12 months time. In the long-term, the United States NY Empire State Manufacturing Index is projected to trend around 10.00 Index Points in 2020, according to our econometric models.