The New York Empire State Manufacturing Index sank to -31.3 in August of 2022, the lowest reading since May of 2020 and the second largest monthly decline in the index on record (11.1 in July). Business activity declined sharply in the New York State, as new orders (-29.6 vs +6.2) and shipments (-24.1 vs 25.3) plunged, and unfilled orders declined further (-12.7 vs -5.2). Meanwhile, delivery times held steady for the first time in nearly two years (-0.9 vs 8.7) and inventories edged higher (6.4 vs 14.8). Labor market indicators pointed to a small increase in employment (7.4 vs 18), but a decline in the average workweek (-13.1 vs 4.3). On the price front, prices paid slowed (55.5 vs 64.3) and the prices received index held steady (32.7 vs 31.3). Looking ahead, firms did not expect much improvement in business conditions over the next six months (2.1 vs -6.2). source: Federal Reserve Bank of New York
NY Empire State Manufacturing Index in the United States averaged 8.28 points from 2001 until 2022, reaching an all time high of 43 points in July of 2021 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 2022.
NY Empire State Manufacturing Index in the United States is expected to be 12.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States NY Empire State Manufacturing Index is projected to trend around 6.00 points in 2023 and 4.00 points in 2024, according to our econometric models.