NY Empire State manufacturing index rises to 11 in March

(Sharecast News) - Manufacturing activity in New York State picked up sharply in April, with the NY Empire State Manufacturing Index rising to 11 from ‑0.2 in March, according to the Federal Reserve Bank of New York, beating expectations for a slight decline and marking the highest reading in five months. The report showed that 36% of firms reported increased activity during the month, while 25% reported a decline. New orders strengthened notably, rising to 19.3 from 6.4, and shipments jumped to 20.2 from ‑6.9. Employment also improved, with the index climbing to 9.8 from 5.8.

However, cost pressures intensified, with the index tracking input prices accelerating to 51 from 36.6, while firms reporting expectations for supply availability worsened, falling to ‑10.1 from ‑3.9.

Optimism surrounding the six‑month outlook also weakened, with the expectations index dropping to 19.6 from 31.







Reporting by Iain Gilbert at Sharecast.com