Empire Manufacturing Index Improves in July

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Economic Update: Empire Manufacturing

The Empire Manufacturing Index for July was reported at 7.39, which was above the consensus expectations for a reading of 4.03 and also above last month’s reading of 2.29.

Last 12 months for reference:

• June: 2.29
  
• May: 17.09
  
• April: 6.56
  
• March: 20.21
  
• February: +19.53
  
• January: +13.48
  
• December: +8.19
  
• November: +0.61
  
• October: -3.00
  
• September: -8.82
  
• August: -7.72
  
• July: -3.76

Internal components of the report:

• New Orders: -2.7 vs. 2.18 in June
  
• Prices Paid: 7.4 vs. 19.59
  
• Employment: 18.5 vs. 12.37

The Prices Paid component fell for the fourth consecutive month and was the lowest since June 2009 while the New Orders was the worst since September 2011.

The Empire Manufacturing Index is designed to indicate the state of the manufacturing sector in the New York region.

Other stories on the US Economy to review:

• Retail Sales Disappoint in June
  
• PPI Up in June
  
• Import/Export Prices Down in June
  
• NFIB Small Business Optimism Index Pulls Back Again
  
• Jobs Report Disappoints Again in June
  
• ISM Non-Manufacturing Index Disappoints in June
  
• ADP Employment Surprises to Upside
  
• Challenger Planned Job Cuts Best in Year
  
• Factory Orders BTE in May
  
• Construction Spending Above Consensus in May
  
• ISM Manufacturing Plunges in June
  
• Chicago PMI Headline Improves But...
  
• US GDP Grew at +1.9% Rate in Q1
  
• Durable Goods Up for First Time in 3 Mos
  
• Richmond Fed Index Declines for Third Month
  
• Consumer Confidence Falls Again in June
  
• Case-Shiller Home Price Index Improves
  
• Chicago Fed National Activity Index Falls in May
  
• Existing Homes Sales Fall But Prices Rises
  
• LEI Rises in May: Points to "Muddle Through"
  
• Philly Fed Plunges in June
  
• Housing Starts Down But Permits Up
  
• Industrial Production and Capacity Utilization Below Expectations
  
• CPI Declines in May

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