Empire Manufacturing Index Dives in August

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Economic Update: Empire Manufacturing

The August Empire State Manufacturing Survey indicates that conditions for New York manufacturers deteriorated over the month.

The Empire Manufacturing Index for July was reported at -5.85, which was below the consensus expectations for a reading of 6.5 and also last month’s reading.

July’s sub-zero reading was the first time the index dipped below zero since October 2011.

Last 12 months for reference:

• July: 7.39

• 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

Internal components of the report:

• New Orders: -5.50 vs. -2.69 in July (June: 2.18)
  
• Prices Paid: 16.47 vs. 7.4 in July (June: 19.59)
  
• Employment: 16.5 vs. 18.5 in July (June: 12.37)

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 Rebound in July
  
• PPI Hotter Than Expected in July
  
• NFIB Small Business Optimism Sags
  
• Wholesale Inventories Decline - And Yes, you should Care
  
• Q2 Worker Productivity and Labor Costs Rise
  
• ISM Services Perks Up
  
• Job Growth Improves in July
  
• Factory Orders Miss Mark in June
  
• Challenger Planned Job Cuts Drop in July
  
• ISM Manufacturing Still Sub-50 in July
  
• ADP Employment Report Surprises to Upside in July
  
• Consumer Confidence Perks Up in July, But...
  
• Chicago PMI Headline BTE, But Employment Dives
  
• Personal Income Up, Spending Flat in June
  
• GDP Slows to 1.5% in Q2
  
• Pending Home Sales Down in June
  
• Durable Goods Up on Transportation Orders
  
• Markit's Flash Manufacturing PMI Weakest in 19 Months
  
• Philly Fed Down Again in July
  
• LEI Falls Again in June
  
• Existing Home Sales Fall in June
  
• Housing Starts Higher, Permits Lower in June

 

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