The New York Empire State Manufacturing Index improved to -0.2 in June of 2020 from -48.5 in the previous month and beating market forecasts of -29.8. Still, the reading pointed to a fourth decline in business activity in the New York State, but the weakest since the coronavirus crisis started in mid-March. New orders were unchanged from last month (-0.6 vs -42.4), and shipments inched higher (3.3 vs -39). Delivery times (1.3 vs -4.1) and inventories were little changed (-0.6 vs -3.4). Employment levels edged slightly lower (-3.5 vs -6.1) and the average workweek continued to decline (-12 vs -21.6). Input price increases picked up (16.9 vs 4.1), and selling prices stabilized (-0.6 vs -7.4). Firms were notably more optimistic that conditions would be better in six months, with the index for future business conditions rising to its highest level in more than a decade (56.5 from 29.1).
NY Empire State Manufacturing Index in the United States averaged 7.81 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 July of 2020. source: Federal Reserve Bank of New York
NY Empire State Manufacturing Index in the United States is expected to be -30.00 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 8.00 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.