2017 Economic Calendar
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Empire State Mfg Survey  
Released On 4/17/2017 8:30:00 AM For Apr, 2017
PriorConsensusConsensus RangeActual
General Business Conditions Index - Level16.4 15.0 13.0  to 17.2 5.2 

Highlights
Activity is thankfully cooling in the Empire State manufacturing area, to a general conditions index of 5.2 in April vs unsustainably strong levels of 16.4 and 18.7 in March and February.

Delivery times appear to be grinding to a halt indicating an outright bottleneck in the supply chain, at 16.1 which is a 16-year record high vs the prior month's 10.4 which was a 13-year high. Growth in new orders eased in the month, down 14 points from March's 7-year high to a still very respectable 7.0. But unfilled orders continue to mount higher, at 12.4 and just off last month's 11-year high.

Manufacturers in the region are hiring with the employment index at a 2-year high of 13.9. Price data are confirming the strength with input costs very high and selling prices showing positive traction.

There's been a burst of factory strength all year in the Northeast with the next Philly Fed report, which was the first regional report to begin lifting off, on Thursday.

Recent History Of This Indicator
Empire State has been signaling exceptionally strong acceleration in the manufacturing sector and has beaten Econoday's consensus in 4 of the last 5 five reports. New orders are at an 8-year high and unfilled orders are at an 11-year high. Empire State's headline index is tracking at a 3-year high, beating expectations by 1 point in March at 16.4. For April, forecasters see the index tracking only slightly back to 15.0. This report will offer the first advance look at this month's factory conditions.

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 175 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
 
 

2017 Release Schedule
Released On: 1/172/153/154/175/156/157/178/159/1510/1611/1512/15
Release For: JanFebMarAprMayJunJulAugSepOctNovDec
 


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