Manufacturing activity in the New York state sustained strong momentum in December on strong demand for goods as supply-chain constraints signaled signs of easing.
- The Empire State Manufacturing Survey’s general business conditions index rose slightly to 31.9 in December from 30.9 in November, surpassing the Wall Street estimate of 25.0.
- Nearly 45% of the firms surveyed stated that conditions had improved in December compared with the previous month, as 13% indicated that business deteriorated.
- Demand for goods continued to expand fast. The new orders and shipment indexes changed slightly to stand at 27.1, signaling strong growth.
- The delivery times index dropped nearly nine points to 23.1, signaling that input delivery times lengthened significantly.
- The index for future business conditions remained largely unchanged at 36.4, and firms project longer delivery times, higher prices, and increased employment.
Large-scale supply chain constraints hampering the manufacturing sector showed additional signs of easing in December.
DXY up +0.07%, EUR USD down -0.03%Source: Empire State Manufacturing Survey