New York Manufacturing Activity Gained Momentum in November

Source: Federal Reserve Bank of New York

New York’ manufacturing activity picked up in November on strong demand and job creation. DXY down -0.01%, EUR USD down -0.04%.

• The Empire State Manufacturing Survey’s general business conditions index increased to 30.9 in November from 19.8 in October.
• In November, 43% of the surveyed firms indicated that the business conditions had improved compared with prior month, while 12% indicated that business environment had deteriorated.
• Demand for goods gathered pace over the month. The new orders index increase by five points to reach 28.8, as the shipments index rose sharply to stand at 28.2.
• Supply chain constraints still persisted, but the survey results signaled a slight improvement. The unfilled orders index fell to 12.7% from 18.5% from the prior month, but remained above-average levels.
• Delivery times index dropped to 32.2 from the past month’s record high of 38.0. Inventories rose at a moderate level.
• Price pressures remained at high levels. Prices paid index increased by four points to 83.0, and the prices received index rose by seven points to a reach a record high of 50.8.