The New York Empire State Manufacturing Index plunged to -0.7 in January of 2022 from 31.9 in December, well below market forecasts of 25. The reading pointed to the first contraction in NY manufacturing activity since the second quarter of 2020, as demand for goods declined amid the spread of the omicron coronavirus variant. It also ends 18 straight months of expansion. New orders declined slightly (-5 vs 27.1 in December), while shipments held steady (1 vs 27.1). Delivery times continued to lengthen (21.6 vs 23.1), and unfilled orders increased (12.1 vs 19). Labor market indicators pointed to a moderate increase in employment (16.1 vs 21.4) and a longer average workweek (10.3 vs 12.1). Both price indexes moved lower, but remained elevated (76.7 for prices paid index and 37.1 for received). Plans for capital and technology spending were strong. Looking ahead, firms remained optimistic that conditions would improve over the next six months. source: Federal Reserve Bank of New York

NY Empire State Manufacturing Index in the United States averaged 8.58 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 January of 2022.

NY Empire State Manufacturing Index in the United States is expected to be 18.00 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.

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United States NY Empire State Manufacturing Index


United States NY Empire State Manufacturing Index
New York Empire State Manufacturing Index is based on data compiled from the survey of 200 executives from the companies in the manufacturing sector in the New York State. Participants report the change in 11 indicators including level of general business activity, new orders, shipments, inventories, number of employees, delivery time, capital expenditure from the previous month and the likely direction of these indicators in six months. A reading above 0 indicates manufacturing activity is expanding, below 0 is contracting.
Actual Previous Highest Lowest Dates Unit Frequency
-0.70 31.90 43.00 -78.20 2001 - 2022 points Monthly
SA

Calendar GMT Actual Previous Consensus TEForecast
2021-12-15 01:30 PM Dec 31.9 30.9 25 29.5
2022-01-18 01:30 PM Jan -0.7 31.9 25 28
2022-02-15 01:30 PM Feb -0.7 3.5


Related Last Previous Unit Reference
NY Empire State Manufacturing Index -0.70 31.90 points Jan/22
NY Empire State Shipments Index 1.00 27.10 points Jan/22
NY Empire State Prices Paid Index 76.70 80.20 points Jan/22
NY Empire State New Orders Index -5.00 27.10 points Jan/22
NY Empire State Employment Index 16.10 21.40 points Jan/22


News Stream
NY Business Activity Unexpectedly Shrinks
The New York Empire State Manufacturing Index plunged to -0.7 in January of 2022 from 31.9 in December, well below market forecasts of 25. The reading pointed to the first contraction in NY manufacturing activity since the second quarter of 2020, as demand for goods declined amid the spread of the omicron coronavirus variant. It also ends 18 straight months of expansion. New orders declined slightly (-5 vs 27.1 in December), while shipments held steady (1 vs 27.1). Delivery times continued to lengthen (21.6 vs 23.1), and unfilled orders increased (12.1 vs 19). Labor market indicators pointed to a moderate increase in employment (16.1 vs 21.4) and a longer average workweek (10.3 vs 12.1). Both price indexes moved lower, but remained elevated (76.7 for prices paid index and 37.1 for received). Plans for capital and technology spending were strong. Looking ahead, firms remained optimistic that conditions would improve over the next six months.
2022-01-18
NY Business Activity Growth Accelerates Further in December
The New York Empire State Manufacturing Index rose to 31.9 in December of 2021 from 30.9 in November, beating forecasts of 25, pointing to strong growth in business activity in the New York State. New orders (27.1 vs 28.8 in November) and shipments (27.1 vs 28.8) posted substantial increases, and firms had more unfilled orders (19 vs 12.7). Delivery times lengthened significantly (23.1 vs 32.2), though less so than last month. Labor market indicators pointed to a solid increase in employment (21.4 vs 26) and a longer average workweek (12.1 vs 23.1). Both price indexes moved somewhat lower but remained near recent record highs. Plans for capital and technology spending were strong. Looking ahead, firms remained optimistic that conditions would improve over the next six months (34.6, the same as in November), though optimism is still lower than it was in the fall.
2021-12-15
NY Business Activity Growth Accelerates in November
The New York Empire State Manufacturing Index jumped to 30.9 in November of 2021 from 19.8 in October, beating forecasts of 21.2, pointing to a strong growth in business activity in the New York State. New orders (28.8 vs 24.3 in October) and shipments (28.2 vs 8.9) posted substantial increases, and unfilled orders rose (12.7 vs 18.5). Delivery times were significantly longer (32.2 vs 38). Employment grew at its fastest pace on record (26 vs 17.1) and the average workweek increased (23.1 vs 15.3). The prices paid index held near its record high (83 vs 78.7) and the prices received index reached a new peak (50.8 vs 43.5). Firms planned significant increases in capital and technology spending. Looking ahead, firms remained optimistic that conditions would improve over the next six months, though optimism dipped (36.9 vs 52).
2021-11-15