Printer Friendly

Manufacturing activity rebounds in February.

Byline: Velvet Spicer

Manufacturing activity across New York grew modestly in February, the latest Empire State Manufacturing Survey shows.

The headline general business conditions index moved up 5 points to 8.8, following a drop of eight points in January. Still, growth was at a significantly slower pace than last year. Some 32 percent of respondents to the monthly survey reported that conditions had improved over the month.

Employment growth among manufacturers this month fell for the second consecutive month, declining 3 points to 4.1. New orders and shipments increased modestly in February, while inventories held steady.

The prices paid fell for a third consecutive month, indicating an ongoing deceleration in input price increases, while the prices received index climbed 10 points to reach its highest level in several months.

Manufacturing firms were more optimistic about the six-month outlook in February compared with January. The index for future business conditions rose 15 points to 32.3, while the indexes for future new orders and shipments climbed to similar levels. Manufacturing firms expect employment and hours worked to increase at a solid pace in the coming months.

vspicer@bridgetowermedia.com / 585-653-4021

Follow Velvet Spicer on Twitter: @Velvet_Spicer

Copyright {c} 2019 BridgeTower Media. All Rights Reserved.

COPYRIGHT 2019 BridgeTower Media Holding Company, LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Rochester Business Journal
Date:Feb 18, 2019
Words:206
Previous Article:Steve Miller Band will headline Rochester Jazz Fest.
Next Article:RoCo accepting entries for annual 6x6 exhibition.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters