Details from the report:
Manufacturing in NY Contracts: General business conditions index fell to -20.0, indicating contraction.Declining Orders & Shipments: New orders dropped to -14.9, shipments fell to -8.5.Inventory Growth: Inventories index rose to 13.3, highest in over two years.Steady Unfilled Orders & Delivery Times: Unfilled orders unchanged, delivery times index at 1.0.Rising Prices: Prices paid index surged to 44.9, highest in two years; prices received rose to 22.4.Employment & Workweek Decline: Employee index at -4.1, workweek index at -2.5.Falling Optimism: Future business activity index declined to 12.7, with weak capital spending plans.Expectations Ahead: Input prices to remain high, supply availability to tighten.From the Economic Research Advisor“Manufacturing activity dropped significantly in New York State in March. Input price increases climbed for a third straight month to hit their fastest pace in more than two years. In addition, supply availability is expected to contract and firms continued to grow less optimistic about the future business outlook.”Not a good comment from the NY Fed from not a great report. The report is a prelude to the national ISM indices.
A look at the key levels:
New orders -14.9 versus 11.4 last month. LowerShipments -8.5 versus 14.2 last month. LowerPrices paid 44.9 versus 40.2 last month. Inflation higherPrices received 22.4 versus 19.6 last month. Inflation higher Number of employees -4.1 versus bias 3.6 last month. LowerAverage workweek -2.5 versus -1.2 last month. LowerSupply availability -1 point versus -2.2 last month. Higher. Inventories 13.3 versus 8.7 last month. HigherLooking at 6-month forward:
New orders 15.5 versus 17.8 last month. Lowershipments 23.0 versus 22.7 last month. Unchanged.Prices paid 58.2 versus 56.5 last month. Higher.Prices received 38.8 versus 42.4 last month. Lowernumber of employees a .2 versus 11.2 last month. Lower. Average workweek a .2 versus 18.5 last month. LowerCapital expenditures 9.2 versus 10.9 last month. LowerSupply availability -6.1 versus -8.7 last month. Higher This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( US March Empire manufacturing index -20.0 versus -1.50 estimate )
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