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- Manufacturing activity in the New York region expanded at solid pace in April
Manufacturing activity in the New York region expanded at solid pace in April
The report
from the New York Federal Reserve showed on Wednesday that manufacturing
activity in the New York region expanded in April at a faster pace than in recent
months.
According to
the survey, NY Fed Empire State manufacturing index came in at 17.80 this month
compared to an unrevised 10.10 in March. That was the highest reading since November
2018.
Economists had
expected the index to come in at 8.50.
Anything below
zero signals contraction.
According to the
report, the new orders index increased two points to 9.7, indicating an increase
in orders, and the shipments index rose eight points to 16.3, pointing to good
increases in shipments. Meanwhile, delivery times held steady, and inventories
moved slightly lower. The index for number of employees fell seven points to
4.7, a level indicating that employment increased only to a small degree. On
the price front, the prices paid index was little changed at 26.2, as was the
prices received index at 12.4.
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