Empire State Manufacturing Index Declines 5th Straight Month; Profit Squeeze Underway
Inquiring minds are taking a peek at the Empire State Manufacturing Survey, a publication of the Federal Reserve Bank of New York.
The December 2012 Empire State Manufacturing Survey indicates that conditions for New York manufacturers continued to decline at a modest pace.
Points of Interest
- General business conditions index was negative for a fifth consecutive month, falling 2.9 points to -8.1
- New orders dropped 6.8 point to -3.7
- Shipments dropped 5.8 points to +8.8
- Prices paid rose 1.5 points to +16.1
- Prices received fell 4.5 points to +1.1
- Number of employees remains in contraction although the index rose 4.9 points to -9.7
- Average work week fell 2.9 points to -10.8
This was a weak report with business conditions contracting for 5 months and new orders also dropping.
Profit Squeeze Underway
Note the margin squeeze on manufacturers. Prices paid are rising while prices received are on the verge of contraction.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Empire State Manufacturing Index Declines 5th Straight Month; Profit Squeeze Underway
Posted by Michael Shedlock at 2:46 PM
Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.