The New York Empire State Manufacturing Index rose to -48.5 in May 2020 from a record low of -78.2 hit last month and above market expectations of -63.5. New orders and shipments continued to decline sharply, though not as steeply as in April. Delivery times were slightly shorter, and inventories were slightly lower. After plunging last month, employment levels and the average workweek fell further in May. On the price front, input costs were slightly higher, while selling prices continued to decline modestly. While current conditions remained extremely weak, firms grew more optimistic that conditions would be better six months from now.
NY Empire State Manufacturing Index in the United States averaged 7.85 points from 2001 until 2020, reaching an all time high of 39 points in April of 2004 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 May of 2020. source: Federal Reserve Bank of New York
NY Empire State Manufacturing Index in the United States is expected to be -25.00 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 10.00 in 12 months time. In the long-term, the United States NY Empire State Manufacturing Index is projected to trend around 4.00 points in 2021, according to our econometric models.