Skip to Content
Global News Select

New York Manufacturing Activity Eases in June — NY Fed

By Xavier Fontdegloria


Manufacturing activity in New York state continued to grow in June, albeit at a slower pace than in the previous month amid easing demand and extensive supply shortages that constrain output growth.

The Empire State Manufacturing Survey's general business conditions index fell to 17.4 in June from 24.3 in May, the Federal Reserve Bank of New York said Tuesday. The indicator came in below the consensus forecast from economists polled by The Wall Street Journal for 22.9.

Manufacturing activity in the state has grown uninterruptedly for one year, the survey signals, as the headline index has remained within expansion territory since July 2020.

"Manufacturing activity grew solidly in New York State, according to the June survey, though at a slower pace than seen in the past few months," the New York Fed said.

In June, 39% of respondents said conditions had improved in the month, while 21% reported that conditions had worsened.

Demand for goods continued to expand, but eased significantly from prior months' high readings. The new orders index fell about 13 points to 16.3, and the shipments index fell almost 16 points to 14.2, still signaling expansion but at a milder pace than in April. Unfilled orders were slightly higher, but also softened significantly compared with the prior month.

Supply strains continued to hinder the industrial sector's growth capabilities, the data showed, with signs that firms can't keep up with strong demand.

The delivery times index rose about 6 points to 29.8, hitting another record high, while the inventories index swung to contraction, the NY Fed said.

Firms in the state continued to create employment, with the index for number of employees held broadly steady at 12.3. However, the average workweek index fell about 4 points to 15.1, indicating modest gains.

Prices paid and prices received retreated only slightly from April's record highs. The prices paid index fell about 4 points to 79.8, and the prices received index decreased about 4 points to 33.3. Both indicators suggest significant price increases.

Firms in the area remained optimistic that conditions would improve over the next six months, the NY Fed said.

The index for future business conditions rose 11 points to 47.7, indicating increasing optimism. The indexes for future new orders and shipments rose to similar levels, and the future employment index rose to a record-high 41.7.


Write to Xavier Fontdegloria at


(END) Dow Jones Newswires

June 15, 2021 08:44 ET (12:44 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.