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Economy

Economic Data (USA)

Tuesday, March 15, 2016

Empire State Manufacturing Survey for March 2016

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

Predicted: -11.25
Actual: +0.6

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:

"...The March 2016 Empire State Manufacturing Survey indicates that business activity steadied for New York manufacturers. The headline general business conditions climbed seventeen points to 0.6, its first positive reading since July of last year. The new orders and shipments indexes rose well above zero for the first time in several months, pointing to an increase in both orders and shipments. Price indexes suggested a slight increase in input prices and a small decline in selling prices. Labor market conditions were little changed, with employment and the average workweek holding fairly steady. The six-month outlook improved, with the index for future new orders rising to its highest level in more than a year..."

Click here to view the full NY Fed report.

  • Last month, the actual figure was -16.6.

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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