.comment-link {margin-left:.6em;}



Economy

Economic Data (USA)

Monday, May 16, 2016

Empire State Manufacturing Survey for May 2016

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

Predicted: +7.0
Actual: -9.02

Any figure below zero implies that manufacturing in the region is contracting, 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 May 2016 Empire State Manufacturing Survey indicates that business activity declined for New York manufacturers. The headline general business conditions index turned negative, falling nineteen points to -9.0. The new orders and shipments indexes also fell below zero, pointing to a decline in both orders and shipments..."
 "...Business activity contracted for New York manufacturing firms, according to the May 2016 survey. Following a brief foray into positive territory in March and April, the general business conditions index fell back below zero, declining nineteen points to -9.0..."

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 +9.56.

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

Labels: , , , ,


>  SITEMAP  <

Links to this post:

Create a Link

<< Home


www.FedPrimeRate.com
Entire Website © 2017 FedPrimeRate.comSM


This website is neither affiliated nor associated with The United States Federal Reserve in any way.
Information in this website is provided for educational purposes only. The owners of this website
make no warranties with respect to any and all content contained within this website. Consult a
financial professional before making important decisions related to any investment or loan
product, including, but not limited to, business loans, personal loans, education loans, first
or second mortgages, credit cards, car loans or any type of insurance.