The New York Empire State Manufacturing Index jumped to 17.2 in July of 2020 from -0.2 in the previous month and beating market forecasts of 10. The reading pointed to the first increase in business activity in the New York State since the coronavirus pandemic began and the strongest since November of 2018 as the economy reopened. New orders (13.9 vs -0.6 in June) and shipments (18.5 vs 3.3) also increased, and unfilled orders were steady (-0.6 vs -12.5). Delivery times were somewhat longer (2.6 vs 1.3), and inventories declined (-9.7 vs -0.6). Employment levels (0.4 VS -3.5) and the average workweek (-2.6 VS -12) were little changed. Input price increases were not much different than last month (14.9 VS 16.9), while selling prices edged lower (-4.5 VS -0.6). Firms remained optimistic about the six-month outlook, though less so than in June (38.4 VS 56.5).
NY Empire State Manufacturing Index in the United States averaged 7.86 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 August of 2020. source: Federal Reserve Bank of New York
NY Empire State Manufacturing Index in the United States is expected to be 5.00 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 7.00 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.