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NY manufacturing conditions less than robust

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NY manufacturing conditions less than robust

General business conditions index for July rises six points to 3.9, but shipments and new orders fall.

According to the New York Federal Reserve’s monthly survey of manufacturers, business conditions improved marginally for New York manufacturers in July.

Expectations for improvement remained subdued.

The general business conditions index increased six points to 3.9. This index has been hovering near zero for the past four months, suggesting that activity has remained flat since April.

However, after a brief foray into positive territory in May, new orders remained below zero at -3.5, after falling to -2.1 in June. This indicates that new orders continue to fall.

Meanwhile, the shipments index also fell four points to 7.9, while the labor market indicators signaled a small increase in employment levels and the average workweek.

Price indices pointed to modest increases in both input prices and selling prices, with the prices paid index reaching its lowest level in three years.

Indices for the six-month outlook suggested that optimism about future business conditions was slightly higher than in June, but in line with the trend over the past six months, expectations for improvement remained subdued.




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