The New York Empire State Manufacturing Index in the United States increased 2.2 points from the previous month to 23.3 in November of 2018, beating market expectations of 20 and pointing to the highest gain in manufacturing in the NY state in three months. Shipments (28 from 26.3), inventories (10.9 from 0.8), employment (14.1 from 9) and average workweek (9.2 from 0.2) accelerated. On the other hand, new orders slowed (20.4 from 22.5), prices paid rose (44.5 from 42) and prices received eased (13.1 from 14.3). Looking ahead, firms remained fairly optimistic about the six-month outlook. NY Empire State Manufacturing Index in the United States averaged 8.84 Index Points from 2001 until 2018, reaching an all time high of 39 Index Points in April of 2004 and a record low of -35.10 Index Points in February of 2009.
NY Empire State Manufacturing Index in the United States is expected to be 21.00 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 22.00 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.