NY Empire State manufacturing index slows to 7.60 in September.
The NY Empire State manufacturing index decreased to 7.60 points in September, according to the Federal Reserve Bank of New York, down from 20.60 points in August but remaining in positive territory.
Source: Sharecast
New orders edged up and unfilled orders increased, while shipments dipped slightly, delivery times lengthened sharply and supply availability worsened again, pointing to continued pressure on input sourcing. Inventories also moved higher.
Labour metrics were firmer, with the employment index little changed at 10.6 and the average workweek jumping to 17.0, its strongest reading in nearly five years.
Pricing pressures intensified, with the prices paid index rising to 63.1, above its recent four‑year high, and prices received climbed to 28.1, signalling faster increases in both input and selling prices.
Firms remained broadly upbeat about the outlook, with the future business conditions index printing at 29.0, as respondents said they were expecting gains in orders, shipments and employment over the coming months.
Supply availability, on the other hand, was anticipated to deteriorate further, while price increases were expected to remain elevated.
Reporting by Iain Gilbert at Sharecast.com
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