The NY Empire State Manufacturing Index unexpectedly sank to -31.8 in May of 2023 from 10.8 in April, compared to forecasts of -3.75. It is the lowest reading in four months, pointing to a sharp drop in manufacturing business activity in the New York State, after a big rebound in April. New orders (-28 vs 25.1) and shipments (-16.4 vs 23.9) plunged after rising significantly last month. Also, delivery times shortened somewhat (-5.7 vs 0), inventories contracted (-12.3 vs 8.2) and both employment (-3.3 vs -8) and hours worked (-3.5 vs -6.4) edged lower for a fourth consecutive month. At the same time, prices increased slightly (34.9 vs 33) and capital spending plans turned sluggish (0.9, the lowest in three years). Meanwhile, the six-month business conditions index increased only marginally to 9.8 from 6.6, in a sign businesses continued to expect little improvement in conditions over the next six months. source: Federal Reserve Bank of New York

NY Empire State Manufacturing Index in the United States averaged 7.61 points from 2001 until 2023, reaching an all time high of 43.00 points in July of 2021 and a record low of -78.20 points in April of 2020. This page provides the latest reported value for - United States NY Empire State Manufacturing Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States NY Empire State Manufacturing Index - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

NY Empire State Manufacturing Index in the United States is expected to be -5.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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United States NY Empire State Manufacturing Index



Calendar GMT Actual Previous Consensus TEForecast
2023-04-17 12:30 PM Apr 10.8 -24.6 -18 -16
2023-05-15 12:30 PM May -31.8 10.8 -3.75 8
2023-06-15 12:30 PM Jun -31.8 -5


Related Last Previous Unit Reference
NY Empire State Manufacturing Index -31.80 10.80 points May 2023
NY Empire State Shipments Index -16.40 23.90 points May 2023
NY Empire State Prices Paid Index 34.90 33.00 points May 2023
NY Empire State New Orders Index -28.00 25.10 points May 2023
NY Empire State Employment Index -3.30 -8.00 points May 2023

United States NY Empire State Manufacturing Index
New York Empire State Manufacturing Index is based on data compiled from the survey of 200 executives from the companies in the manufacturing sector in the New York State. Participants report the change in 11 indicators including level of general business activity, new orders, shipments, inventories, number of employees, delivery time, capital expenditure from the previous month and the likely direction of these indicators in six months. A reading above 0 indicates manufacturing activity is expanding, below 0 is contracting.
Actual Previous Highest Lowest Dates Unit Frequency
-31.80 10.80 43.00 -78.20 2001 - 2023 points Monthly
SA

News Stream
NY Manufacturing Activity Shrinks More than Expected
The NY Empire State Manufacturing Index unexpectedly sank to -31.8 in May of 2023 from 10.8 in April, compared to forecasts of -3.75. It is the lowest reading in four months, pointing to a sharp drop in manufacturing business activity in the New York State, after a big rebound in April. New orders (-28 vs 25.1) and shipments (-16.4 vs 23.9) plunged after rising significantly last month. Also, delivery times shortened somewhat (-5.7 vs 0), inventories contracted (-12.3 vs 8.2) and both employment (-3.3 vs -8) and hours worked (-3.5 vs -6.4) edged lower for a fourth consecutive month. At the same time, prices increased slightly (34.9 vs 33) and capital spending plans turned sluggish (0.9, the lowest in three years). Meanwhile, the six-month business conditions index increased only marginally to 9.8 from 6.6, in a sign businesses continued to expect little improvement in conditions over the next six months.
2023-05-15
NY Manufacturing Activity Rebounds Sharply
The NY Empire State Manufacturing Index unexpectedly jumped to 10.8 in April of 2023 from -24.6 in March, beating market forecasts of -18. The reading pointed to the first increase in manufacturing in the NY state in five months and the strongest since July last year. The new orders index rebounded to a one-year high of 25.1 from -21.7, price pressures eased (33 vs 41.9) and employment shrank less, although it marked the third consecutive month of falls (-8 vs -10.1). Looking ahead, firms expect business conditions to improve over the next six months (6.6 vs 2.9), with measures of capital expenditures and employment also rising.
2023-04-17
New York State Business Activity Falls in March
The NY Empire State Manufacturing Index sank to -24.6 in March of 2023, from -5.8 in February, and well below market forecasts of -8. New orders (-21.7 vs. -7.8 in February) and shipments (-13.4 vs. 0.1) declined, while both employment (-10.1 vs. -6.6) and hours worked (-18.5 vs. -12.1) fell for a second consecutive month. At the same time, delivery times shortened (-7.6 vs. -9.2), suggesting supply availability improved and inventories were steady. In addition, input price increases slowed considerably (41.9 vs 45.0), and selling price increases also moderated (22.9 vs. 28.4). Looking ahead, firms expect some deterioration in business conditions over the next six months (2.9 vs. 14.7).
2023-03-15