New York manufacturing index slips in December

 The results of the December survey indicate that business activity “continued to grow at a solid clip” for New York manufacturers, the Federal Reserve Bank of New York said in its news release issued Friday.

The survey found 37 percent of respondents reported that conditions had improved over the month, while 19 percent reported that conditions had worsened.

Survey details

The new-orders index and the shipments index both “showed sustained strong gains,” with the new-orders index holding steady at 19.5 and the shipments index edging up to 22.4.

Delivery times were “slightly longer” than last month, and inventory levels were “stable.”

Labor-market indicators pointed to a “small” increase in employment but no change in hours worked.

Both input prices and selling prices rose at a “somewhat faster” pace than last month.

Indexes assessing the six-month outlook suggested that firms remained “optimistic” about future business conditions.

The New York Fed distributes the Empire State Manufacturing Survey on 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.