2017 Economic Calendar
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Empire State Mfg Survey  
Released On 6/15/2017 8:30:00 AM For Jun, 2017
PriorConsensusConsensus RangeActual
General Business Conditions Index - Level-1.0 5.0 1.4  to 8.0 19.8 

Highlights
May proved only a brief interruption for Empire State where the general business conditions index jumped from minus 1.0 to a much higher-than-expected 19.8 for June. New orders, which also dipped into the minus column in May, jumped back to 18.1 with unfilled orders also moving back into the plus column at 4.6. Shipments are very strong this month, at 22.3, while employment is also constructive at 7.7. Price data show steady and elevated pressure for inputs and building strength for selling prices. Delivery times are slowing and inventories are being built, both indications of strength. Yet strength earlier in the year in this report, along with even greater acceleration in the Philly Fed report, have yet to pan out to similar strength for the nation's factory sector.

Recent History Of This Indicator
Strength is expected to resume in June's Empire State index where Econoday's consensus is 5.0 vs a minus 1.0 reading in May that ended a run of unusual strength. Both new orders and backlogs contracted in May but manufacturers in the New York region still kept up production and hiring.

Definition
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 175 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
 
[Chart]
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
 
 

2017 Release Schedule
Released On: 1/172/153/154/175/156/157/178/159/1510/1611/1512/15
Release For: JanFebMarAprMayJunJulAugSepOctNovDec
 


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