2011 Economic Calendar
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Empire State Mfg Survey  
Released On 2/15/2011 8:30:00 AM For Feb, 2011
PriorConsensusConsensus RangeActual
General Business Conditions Index - Level11.92 15.0 11.0  to 20.0 15.43 

Activity remains strong in the New York manufacturing region. The Empire State index rose more than 3-1/2 points to 15.43 to indicate monthly growth in general activity at an accelerating rate. Details show less strength with new orders decelerating slightly but still showing strong growth at 11.80. Shipments slowed in half but again are strong at a reading of 11.31. One reading that isn't positive is a slowing in hiring to only 3.61.

Other details are mostly positive. The rate of inventory build doubled in the month to 9.64 while the draw in unfilled orders was half December's rate. Price data show increasing cost pressure for inputs and solid, steady pricing power for outputs. This report hints at another month of strength, though perhaps a little less strength, for the manufacturing sector at the national level.

Consensus Outlook
The Empire State manufacturing index in January rose 2.03 points to 11.92, a reading well over the breakeven zero level. A jump in the new orders index to 12.39 from 2.03 in December suggests further improvement in the report for February.

The New York Fed conducts this monthly survey of manufacturers in New York State. Participants from across the state represent a variety of industries. On the first of each month, the same pool of roughly 200 manufacturing executives (usually the CEO or the president) is sent a questionnaire to report the change in an assortment of indicators from the previous month. Respondents also give their views about the likely direction of these same indicators six months ahead.  Why Investors Care
The Empire State Manufacturing Survey has a much shorter history than the Philadelphia Fed's business outlook survey. The two series tend to move in tandem much of the time, although not each and every month. They are both considered leading indicators for the ISM manufacturing survey.
Data Source: Haver Analytics

2011 Release Schedule
Released On: 1/182/153/154/155/166/157/158/159/1510/1711/1512/15
Release For: JanFebMarAprMayJunJulAugSepOctNovDec

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