The New York Empire State Manufacturing Index fell for the second month to 6.3 in November of 2020 from 10.5 in October and well below market forecasts of 12.75. It is the lowest reading in 3 months, pointing to a below-average growth in business activity in the NY state. There was a small increase in new orders (3.7 vs 12.3), and shipments were modestly higher (6.3 vs 17.8). Inventories moved lower (-8.6 vs -14.6), and delivery times were steady (0.7 vs 2). Employment levels (9.4 vs 7.2) and hours worked both rose (4.8 vs 16.1). Input prices increased at about the same pace as last month (29.1 vs 27.8), while selling price increases picked up (11.3 vs 5.3). Looking ahead, firms remained optimistic that conditions would improve over the next six months (33.9 vs 32.8). source: Federal Reserve Bank of New York
NY Empire State Manufacturing Index in the United States averaged 7.88 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 November of 2020.
NY Empire State Manufacturing Index in the United States is expected to be 10.00 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 12.00 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.