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Macroeconomics  |  August 15, 2012 16:27:00

The manufacturing activity of New York fell unexpectedly in August


Activity of the New York manufacturers in August unexpectedly slowed and the outlook is deteriorating again. The current Empire State index fell by 13.2 points to -5.85 points and recorded the first decline since October last year, said the Fed's latest survey of New York. The result of the survey was significantly weaker than the majority consensus +7.2 points. In the same period a year ago recorded activity index -6.63 points.

New orders remained in a slight decrease in the second month and supply growth slowed to ten minimum. Indicator of completion of orders fell fourteen months in a row. Inventories of finished goods fell significantly.Enterprises maintain employment growth, but took on fewer workers than in July. Input prices reflected the lowest level since June 2009, but remained subdued. Prices of finished goods increased for the third month in a row very slightly. Future activity index fell to a ten-month low 15.2 points. Most companies expected slower growth in new orders and deliveries, lower investment and employment growth and lower prices of inputs and finished products.



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