The New York Empire State Manufacturing Index in the United States fell 5.1 points from the previous month to 3.7 in March 2019, missing market expectations of 10. It is the weakest reading since May 2017, as the new orders index declined 4.5 points to 3 and the shipments index dropped 2.7 to 7.7. Delivery times and inventories held steady. Labor market indicators pointed to a rise in employment (+9.7 points to 13.8), while the average workweek index turned negative for the first time since 2016 (-5.9 points to -3.4). On the price front, the prices paid index rose for the first time in four months, pointing to a pickup in input prices, while the prices received index eased, indicating a slowing in selling price increases. Looking ahead, firms remained fairly optimistic about future conditions. NY Empire State Manufacturing Index in the United States averaged 8.80 Index Points from 2001 until 2019, reaching an all time high of 39 Index Points in April of 2004 and a record low of -34.40 Index Points in February of 2009.
NY Empire State Manufacturing Index in the United States is expected to be 13.00 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 15.00 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.