Tuesday, June 15, 2010

Empire State Shows Expansion



From the NY Fed:

The Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved in June. The general business conditions index edged up from its May level to 19.6, extending its string of positive readings to eleven months. The new orders and shipments indexes were also positive and higher than their May levels. The inventories index remained near zero for a second straight month, indicating that inventory levels were little changed. The prices paid index fell 17½ points to 27.2, while the prices received index held steady at 4.9. The index for number of employees was positive, but fell 10 points, while the average workweek index climbed to 8.6. Future indexes were well above zero, but the readings, like last month's, fell short of the relatively high levels recorded earlier this year.


Here's a chart of the data:


Once again, we get good news from the manufacturing sector.