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Empire manufacturing index for the month of August 2018
The empire manufacturing index for the month of August came in better than expected at 25.6 vs 20.0 expected. Forty-two percent of respondents reported that conditions had improved over the month, while 16 percent reported that conditions had worsened.
- employment index 13.1 versus 17.2 in July
- new orders index 17.1 in August versus 18.2 in July
- price paid index 45.2 in August versus 42.7 in July
- shipments index rose eleven points to 25.7
- six-month business condition index 34.8 in August versus 31.1 in July
- Unfilled orders increased, and inventories held steady
- The average workweek index was 8.9, indicating a modest increase in hours worked
- The delivery time index rose four points to 10.4, indicating that delivery times continued to lengthen
As per the NY Fed:
New orders and shipments grew strongly, and firms reported an increase in unfilled orders. Delivery times continued to lengthen, and inventories held steady. Labor market indicators pointed to solid gains in employment and longer workweeks. Price indexes were little changed and remained elevated, indicating ongoing significant price increases. Looking ahead, firms stepped up their capital spending plans and were fairly optimistic about the six-month outlook.
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