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). source: Federal Reserve Bank of New York

NY Empire State Manufacturing Index in the United States averaged 7.75 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 March of 2023.

NY Empire State Manufacturing Index in the United States is expected to be -7.00 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
2023-02-15 01:30 PM Feb -5.8 -32.9 -18 -19
2023-03-15 12:30 PM Mar -24.6 -5.8 -8 -7
2023-04-17 12:30 PM Apr -24.6


Related Last Previous Unit Reference
NY Empire State Manufacturing Index -24.60 -5.80 points Mar 2023
NY Empire State Shipments Index -13.40 0.10 points Mar 2023
NY Empire State Prices Paid Index 41.90 45.00 points Mar 2023
NY Empire State New Orders Index -21.70 -7.80 points Mar 2023
NY Empire State Employment Index -10.10 -6.60 points Mar 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
-24.60 -5.80 43.00 -78.20 2001 - 2023 points Monthly
SA

News Stream
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
NY State Business Activity Shrinks at Slower Rate
The NY Empire State Manufacturing Index climbed 27.1 points from a month earlier to -5.8 in February 2023, easily beating market expectations of -18.0 and suggesting business activity in New York State contracted at a softer pace. The rate of decline of new orders eased (-7.8 vs -31.1 in January), while shipments were unchanged (0.1 vs -22.4). Meanwhile, delivery times shortened (-9.2 vs 0.9), and inventories edged higher (6.4 vs 4.5). Employment levels declined for the first time since early in the pandemic (-6.6 vs 2.8), and the average workweek shortened for a third consecutive month (-12.1 vs -10.4). Both input and selling price increases picked up. Looking ahead, firms expect business conditions to improve somewhat over the next six months.
2023-02-15
NY Manufacturing Shrinks the Most since 2020
The NY Empire State Manufacturing Index sank to -32.9 in January of 2023, the lowest since May of 2020, from -11.2 in December, and well below market forecasts of -9. The reading pointed to the fifth worst contraction on record in factory activity in the NY state, as new orders (-31.1 vs -3.6 in December) and shipments (-22.4 vs 5.3) declined substantially. Also, delivery times held steady (0.9 vs 1.9), and inventories (4.5 vs 3.7) edged higher. Employment growth stalled (2.8 vs 14), and the average workweek shortened (-10.4 vs -4.5). In addition, input price increases slowed considerably (33 vs 50.5), and selling price increases also moderated (18.8 vs 25.2). Looking ahead, firms expect little improvement in business conditions over the next six months (8 vs 6.3).
2023-01-17