US February Empire Fed 5.7 vs -1.0 expected
- Prior was -12.6
Business activity edged higher in New York State in February, according to firms responding to the Empire State Manufacturing Survey. The headline general business conditions index climbed eighteen points to 5.7.
New orders and shipments grew moderately. Delivery times were slightly longer, and supply availability was slightly lower. Inventories continued to expand modestly.
Employment levels moved lower. Input prices increased at the fastest pace in nearly two years, and selling price increases also ticked up noticeably. Though firms expect conditions to improve over the next six months, optimism about the outlook dropped significantly.