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NY Fed Manufacturing Survey Stays Upbeat

Tuesday, June 15, 2010

The monthly survey of manufacturing activity in New York state was positive for the 11th straight month, the Federal Reserve Bank of New York reported Tuesday.

The index measuring general business conditions was at 19.6 in June, up 0.5 points from May’s reading.

Breaking out the Empire State Manufacturing Survey, the indices looking at new orders and shipments were positive and higher than their May levels. The inventories index remained near zero for a second straight month, indicating that inventory levels were little changed. The prices paid index fell 17.5 points to 27.2, while the prices received index held steady at 4.9.

Employment remained positive, but fell 10 points, while the average workweek index climbed to 8.6. Future indexes were well above zero, but the readings, like last month’s, fell short of the relatively high levels recorded earlier this year.

The Fed survey polls 200 manufacturing executives each month.

Read more: NY Fed manufacturing survey stays upbeat - Business First of Buffalo