Empire State Manufacturing Survey for April 2016

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

Predicted: +3.0
Actual: +9.56

Any figure above zero implies that manufacturing in the region is expanding, and vice versa.

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

From today's report:

"...The April 2016 Empire State Manufacturing Survey indicates that business activity expanded for New York manufacturers. The headline general business conditions climbed nine points to 9.6, its highest level in more than a year. The new orders and shipments indexes registered an increase in both orders and shipments, and inventories were slightly lower than last month. The prices paid index climbed sixteen points to 19.2, pointing to a pickup in input price increases, while the prices received index rose above zero, a sign that selling prices increased. Employment levels and the average workweek were little changed from March. The six-month outlook continued to improve, with the index for future business conditions rising for a third straight month..."

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..."

Click here to view the full NY Fed report.

• Last month, the actual figure was +0.62.
  

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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