The Federal Reserve Bank of New York reported today that its Empire State Manufacturing Survey general business-conditions index rose to 5.6 in March from 4.5 in February.
Even though the index was “little changed” this month, the survey indicates business conditions “continued to improve” in March, according to a news release the New York Fed distributed this morning.
About 30 percent of respondents reported that conditions had improved over the month, while 25 percent said that conditions had worsened, the New York Fed said in the news release.
(Sponsored)
In the Market to Build? Get Started in 4 Simple Steps
Finding the perfect home isn’t always easy, especially in our world today. The U.S. Housing Shortage has created an ongoing challenge for homebuyers across the nation, opening the door to
Can a Generative AI Use Policy for the Workplace Help Protect Sensitive Data?
Artificial intelligence is a buzzword for many industries. It has good and bad effects on the future of creating content, finding information, and other uses. So, what does this mean
The new-orders index climbed three points to 3.1, indicating that orders were “slightly higher,” while the shipments index inched up to 4.0.
The unfilled-orders index fell further into negative territory, declining 10 points to minus 16.5. The inventories index advanced to 7.1, pointing to rising inventory levels, according to the New York Fed.
The indexes for both prices paid and prices received declined but remained positive, indicating slower price growth, it added.
Employment indexes were positive and suggested a small increase in employment levels and hours worked, the New York Fed said.
Indexes for the six-month outlook were down somewhat from last month’s levels, but continued to convey a “fairly strong” degree of optimism about future conditions.
The capital-spending index rose to its highest level in several months, according to the survey.
The New York Fed distributes the Empire State Manufacturing Surveyon the first day of each month to the same pool of about 200 manufacturing executives in New York.
On average, about 100 executives return responses, it says.
Contact Reinhardt at ereinhardt@cnybj.com