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NY Fed: Empire State Manufacturing Index drops to lowest stage in over a yr at three.9 in January

“Enterprise exercise grew barely in New York State, in accordance with companies responding to the January 2019 Empire State Manufacturing Survey,” the Federal Reserve Financial institution of New York reported on Tuesday.

Key takeaways from the press launch

The final enterprise circumstances index fell eight factors to three.9, its lowest studying since mid-2017. The headline index has fallen a cumulative eighteen factors since November. Twenty-three p.c of respondents reported that circumstances had improved over the month, whereas 20 p.c reported that circumstances had worsened. The brand new orders index fell ten factors to three.5, indicating that progress in orders slowed considerably, whereas the shipments index was little modified at 17.9. Unfilled orders have been considerably decrease, inventories declined, and supply instances have been barely shorter.


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