The New York Empire State Manufacturing Index in the United States rose to 17.8 in May 2019 from 10.1 in the previous month and beating market expectations of 8.5. It is the strongest reading in six months, as new orders (9.7 vs 7.5 in April) and shipments (16.3 vs 8.6) increased at a faster pace. Meanwhile, delivery times (0.7 vs 7.0) and inventories (-4.1 vs 8.4) moved slightly lower. Labor market indicators pointed to small increases in employment (4.7 vs 11.9) and hours worked (4.4 vs 4.3). Price indexes were little changed, suggesting that prices increased at about the same pace as last month. Looking ahead, the six-month outlook indicated that firms were significantly more optimistic about future conditions. NY Empire State Manufacturing Index in the United States averaged 8.84 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 7.00 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 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 Index Points in 2020, according to our econometric models.