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United States : Empire State Mfg Survey  
Released On 6/15/2018 8:30:00 AM For Jun, 2018
PriorConsensusConsensus RangeActual
General Business Conditions Index - Level20.1 19.1 17.0  to 22.5 25.0 

Highlights
Enormous strength is Empire State's indication for the June factory sector, at a headline index of 25.0 that easily tops Econoday's consensus range. Both new orders, up more than 5 points to 21.3, and backlog orders, up more than 4 points to 9.3, are pointing to rising activity in the months ahead.

And activity is already at a very strong pitch with shipments up more than 4 points to 23.5, employment up more than 10 points to 19.0, and the average workweek up nearly a point to 12. Delivery delays are routine and selling prices are going up, both indications of very strong demand.

The factory sector, where orders are rising at a roughly double-digit pace, is the economy's hottest sector. Yet coming up later this morning is industrial production where the manufacturing numbers have been less positive.

Consensus Outlook
June's Empire State index is expected, at a consensus 19.1, to roughly match May's strength at 20.1. New orders have been solid and backlogs have been on the rise which point to general strength for the June report.

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 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
 
[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
 
 

2018 Release Schedule
Released On: 1/162/153/154/165/156/157/168/159/1710/1511/1512/17
Release For: JanFebMarAprMayJunJulAugSepOctNovDec
 


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