Economy
December 3, 2013
November Key Economic Data
Written by Sandy Williams
The Empire State Manufacturing Index business conditions held steady for New York manufacturers in October. The general business index fell 5 points to 1.5 but remained in growth status. The new orders index rose 5 points while shipping fell 3 points, suggesting modest increases for both indexes for the month. New York manufacturers continued to show optimism in the six-month outlook with the future general index registering 40.8. Future orders and shipments are expected to increase along with pries paid. The future prices paid index rose 6 points to 45.8. Future prices received remained steady.
The October PMA Business Conditions Report said metalforming companies expect improved business activity for the next three months after expressing pessimism in October. “Metalforming companies are generally anticipating that orders and shipments for year-end 2013 and early 2014 will continue to reflect flat to modestly higher levels of activity, compared to today’s levels,” said William E. Gaskin, PMA president.
