Business conditions for New York Manufacturers continued to swing upward in January, according to the Federal Reserve Bank of New York’s monthly Empire State Manufacturing Survey.
The survey’s general business conditions index increased 5.3 points to 13.5 in January. The index, which was 8.2 in December, has been trending up since October 2011, according to the New York Fed.
About 35.2 percent of manufacturers reported better business conditions in January, while 21.7 percent indicated that conditions worsened. The remaining 43.1 percent of survey respondents said conditions remained the same.
(Sponsored)
Unique Ways to Save Money As You Upgrade Your Business Technology
It’s no secret that innovating is the key to business growth and prosperity. To stay competitive, businesses must continually seek new technologies to enhance productivity. However, the issue of cost
Ask the Expert: Solving Your Workforce Challenges with Registered Apprenticeship
Finding skilled workers isn’t getting any easier. Whether you’re facing retirements, turnover, or a lack of qualified candidates, you’re not alone. Businesses across every industry are struggling to fill critical
The New York Fed recalibrated historical data for this month’s survey as part of an annual benchmark revision. Therefore, the current survey’s measure of last month’s general business conditions index, 8.2, is slightly different from the index of 9.5 that was first reported in December.
The new orders index rose 7.7 points to 13.7, meaning orders were up in January. The shipments index crept up 1.6 points to 21.7, demonstrating a slight increase in shipments.
Selling prices increased significantly, according to the survey. The prices received index rose 19.6 points to 23.1 in January. In contrast, the prices paid index climbed by just under two points to 26.4.
Optimism for the future also rose among manufacturers, the survey found. The future general business conditions index rose 9.3 points to 54.9 points.
The New York Fed polls a set pool of about 200 New York manufacturing executives for the monthly survey. About 100 executives typically respond and the Fed seasonally adjusts data.
Contact Seltzer at rseltzer@cnybj.com
