New York Manufacturing Growth Hits 4-Year High

New York manufacturing growth jumped to a four-year-high for July, according to a new report (link opens as PDF) released Tuesday by the New York Federal Reserve. 

Comprised of surveys from around 100 New York executives, The Empire State Manufacturing Survey attempts to determine whether certain components of manufacturing have experienced growth (positive number), or contraction (negative number). Investors watch New York manufacturing (and other regions) as a possible signal of larger economic upswings or downturns. 

For July, the survey's general business conditions index clocked in at 25.6 points, up significantly from June's already impressive 19.3 reading. Analysts had actually been expecting a downturn, and were pleasantly surprised when their 17.8-point estimate proved far too pessimistic. 

Source: New York Federal Reserve

Digging deeper, the all-important new orders component maintained its strength, edging up 0.4 points to reach 18.8. Shipments expanded a sizable 9.4 points to 23.6, while employment increased 6.3 points to 17.1.

Tuesday's report isn't picture-perfect, though. Overall numbers helped to hide some underperformers. Unfilled orders declined 5.7 points to -6.8, inventories headed from 9.7 in June to -3.4, and the employee workweek component shrunk 5.4 points to 2.3. 

With today's report showing exceedingly strong but unequally balanced growth, analysts will be keeping a close watch on Thursday's Philadelphia Federal Reserve report, the next regional manufacturing in sight.

Leaked: Apple's next smart device (warning, it may shock you)
Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. And there's one small company making Apple's gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 3029984, ~/Articles/ArticleHandler.aspx, 10/1/2014 2:42:58 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement