Empire State: New York Manufacturing Only Small Improvement

By Jon C. Ogg Updated Apr 27, 8:48PM EDT · Published Apr 16, 8:42AM EDT

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April’s release on the Empire State Manufacturing Survey from the New York Federal Reserve is showing that manufacturing activity in New York State appears to have improved modestly. The report came in at a reading of 6.6 for the general business conditions index. That is down 14 points from the prior month and well under the 18.0 expected.

The new orders and shipments indexes remained positive but showed only a small gain in orders and shipments. The prices paid component in the index went down slightly but remained high, while the prices received component of the index rose by 6 points up to 19.3. There was an uptick to the number of employees rose to the highest level in nearly a year. The average workweek index fell to a level that indicated only a small increase in hours worked. Future indexes remained quite positive, suggesting a strong and persistent degree of optimism about the six-month outlook.

The inventories index was little changed at 1.2, which suggests that overall inventory levels held steady.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.