The New York Empire State Manufacturing Index in the United States fell 12.4 points from the previous month to 10.9 in December of 2018 and missing market expectations of 20. The reading pointed to the lowest gain in manufacturing in the NY state since May last year, as shipments (21 from 28), inventories (7.1 from 10.9), new orders (14.5 from 20.4), average workweek (8 from 9.2), prices paid (39.7 from 44.5) and prices received (12.8 from 13.1) eased. On the other hand, employment (26.1 from 14.1) increased. Looking ahead, firms remained fairly optimistic about the six-month outlook, though optimism was slightly more tempered than in November. NY Empire State Manufacturing Index in the United States averaged 8.85 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.