Economy
February 4, 2014
Key Economic Data
Written by Sandy Williams
The Empire State Manufacturing Index rose 10 points to 12.5, indicating acceleration in business activity and reaching its highest level since May 2012. Prices paid and prices received rose in double digits in January with prices paid soaring 21 points to 36.6 indicating higher input costs. The six month outlook is optimistic with orders up and prices paid and received both falling slightly. Employment gains are expected along with increased capital expenditures and technology expenditures.
The January PMA Business Conditions Report indicated metalforming companies expect acceleration in business conditions within the next three months, including higher orders. Shipping levels were higher in January. William Gaskin, PMA president, expects shipment growth of 3 to 6 percent in 2014. Only 6 percent of companies reported workforce on short time or layoff, the lowest level since Dec. 2012.
