NY Empire State manufacturing index strengthens in August.
US manufacturing activity strengthened sharply in August, according to the latest Empire State manufacturing survey from the New York Fed, with firms reporting solid gains in orders and shipments alongside longer delivery times and worsening supply availability.
Source: Sharecast
The headline general business conditions index rose five points to 20.6, its highest level in more than four years, signalling strong growth in statewide factory activity.
New orders increased to 17.3, shipments climbed to 11.7, and unfilled orders jumped to 15.5, while the delivery times index also moved higher, pointing to a notable build‑up in backlogs.
Inventories declined and the supply availability index fell further to -13.4, indicating continued pressure on input sourcing.
Employment continued to expand, with the number‑of‑employees index at 9.3 and the average workweek rising to 6.9.
Price pressures remained elevated, with the prices paid index increasing to 58.6, suggesting a pickup in input‑cost inflation, while prices received eased to 22.7, indicating selling‑price growth moderated but stayed high.
Looking ahead, firms remained upbeat, with the future business conditions index rising to 32.1 as respondents said they were expecting strong gains in orders, shipments and employment over the next six months.
Supply availability, on the other hand, was expected to worsen further, and price increases were projected to remain elevated, while capital‑spending plans stayed modest.
Reporting by Iain Gilbert at Sharecast.com
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