Breaking out February's Empire Manufacturing report by each of its various components showed a mixed picture. Of the nine sub-components, five dropped this month with the biggest declines coming in Shipments, Prices Paid, and New Orders. On the upside, Delivery Times saw the largest increase (+9.8), while Average Workweek, Unfilled Orders, and Prices Received saw modest increases. Finally, when we compare the difference between current conditions and expectations over the next six months, the biggest gaps are in New Orders and Shipments. So, while business may be slow for manufacturers in the NY area right now, they are expecting a sizable pickup in the months ahead.
February 18th, 2014 at 2:16 pm
Drilling down the Empire Manufacturing report:
http://www.bespokeinvest.com/thinkbig/2014/2/18/empire-manufacturing-weaker-than-expected.html