Empire State Manufacturing Survey for June 2020

Earlier today, the Federal Reserve Bank of New York  (NY Fed) released the Empire State Manufacturing Survey for this month (June 2020):

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Expected: -10.0

• Actual: -0.2

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

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The May 2020 Figure: -48.5 

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CHART: Empire State Manufacturing Survey - June 2020 Update

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From Today's Report:

"...Business activity steadied in New York State, according to firms responding to the June 2020 Empire State Manufacturing Survey. After breaching record lows in April and May, the headline general business conditions index climbed forty-eight points to -0.2. New orders were unchanged from last month, and shipments inched higher. Delivery times and inventories were little changed. Employment levels edged slightly lower and the average workweek continued to decline. Input price increases picked up, and selling prices stabilized. Firms were notably more optimistic that conditions would be better in six months, with the index for future business conditions rising to its highest level in more than a decade..."

 

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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..."

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• Click here to view the full New York Fed report.

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• 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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