U.S. December Empire State Manufacturing Survey - November strength confirmed as erratic
December’s Empire State manufacturing index of 0.2 confirms the November reading of 31.2, that vastly outperformed other comparable manufacturing surveys, was erratic. The index is still showing some improvement in trend after nine straight negatives seen in the months ending in August 2024.
New orders at 6.1 are still clearly positive if down from November’s 28.0 but employment and the workweek both slipped back into negative territory after positives in October and November, and in the case of the workweek, September too.
Six-month expectations at 24.6 are down from 33.3 in November and the lowest since August, though positive for a thirteenth straight month.
Price data lost some momentum, prices paid at 21.1 from 27.8 a 12-month low, and prices received at 4.2 from 12.4 a 17-month low.
6-month price expectations showed prices paid at 42.1 from 48.5, the lowest since August and prices received at 28.4 from 41.2, the lowest since July.
