skip to content

Economic Report

Empire State index shows factory activity treading water

New York Empire State headline business conditions index rises only 1.5 points to 4.8 in January

An employee pulls a crucible of molten glass from a furnace at the Corning Inc. plant in Corning, New York.

Bloomberg News/Landov

Referenced Symbols

The numbers: 7073彩票注册The New York Federal Reserve’s Empire State business conditions index rose 1.5 points to 4.8 in January, the regional Fed bank said Wednesday. Economists had expected a reading of 3.6,

7073彩票注册Any reading above zero indicates improving conditions.

What happened: 7073彩票注册The new-orders index rose 4.9 points to 6.6 in January while shipments fell 0.9 points to 8.6. Unfilled orders continued to decline.

Optimism about the six-month outlook remained restrained. The index for future business conditions edged down 3 points to 23.6.

The Empire State index versus the ISM factory index

Big picture: The headline index has been in a narrow range since the middle of 2019. Overall, the factory sector continued to struggle, hurt by international trade worries, a pull back in spending, and Boeing Co’s BA, -10.27%7073彩票注册 isssues over its grounded 737 Max airplane. Investors look at the data mainly to get a sense of the U.S. national ISM index, which has been contracting for five straight months. The regional Fed indicators have not been as weak as the ISM in recent months. In December, the ISM factory index slipped to 47.2, the weakest reading since the recession.

What are they saying? Josh Shapiro, chief U.S. economist at MFR Inc, called the report “lackluster.”

Market reaction: 7073彩票注册 opened higher, as worries over trade tension with China eased. The S&P 500 Index SPX, -3.36% was up 3.35 points in late afternoon trading.

Read Next

Read full story

Read Next

As coronavirus ravages his native New York, media mogul David Geffen observes a sunset from his $400 million superyacht: ‘I’m hoping everybody is staying safe’

If ever there were doubts about how the superaffluent are faring amid a pandemic for the ages, media mogul David Geffen wants to make it abundantly clear that, for his part, he’s doing just fine — and he wishes us all the best.

689彩票邀请码 7072彩票开户 7073彩票注册 963彩票开户 7073彩票网址 7073彩票地址 7073彩票登录 66顺彩票app 8炫彩彩票app 677彩票开户