Empire State Manufacturing Survey for February 2016

Earlier today, the Federal Reserve Bank of New York  (NY Fed) released the Empire State Manufacturing Survey for this month (February 2016):

Predicted: -10.0
Actual: -16.64

Any figure below zero implies that manufacturing in the region is contracting, and vice versa.

About this survey, from the NY Fed website:

"...Participants from across the state in a variety of industries respond to a questionnaire and report the change in a variety of indicators from the previous month. Respondents also state the likely direction of these same indicators six months ahead..."

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

From today's report:

"...Business activity declined for a seventh consecutive month for New York manufacturing firms, according to the February 2016 survey. After dropping to its lowest level since the Great Recession in January, the general business conditions index edged up three points to -16.6..."

Click here to view the full NY Fed report.

• Last month, the actual figure was -19.37.
  

For a national perspective on manufacturing in the United States, check out the Institute of Supply Management's Purchasing Manager's Index (PMI).

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