By ANDREA DECKERT
Rochester Business Journal, April 15, 2016
Business activity expanded in April for New York manufacturers for the first time in over a year, the Federal Reserve Bank of New York’s Empire State Manufacturing Survey shows.
After remaining in negative territory for seven months, the general business conditions index rose to a reading slightly above zero last month, and climbed nine more points to reach 9.6 in April. Thirty-one percent of respondents reported conditions had improved over the month, while 22 percent reported conditions had worsened.
The new orders index increased two points to 11.1. The shipments index edged lower but, at 10.2, still signaled a modest increase in shipments. The unfilled orders and delivery time indexes both came in close to zero. The inventories index was -4.8.
The prices paid index rose 16 points to 19.2. The prices received index, up nine points to 2.9, showed a small increase in selling prices. The index for number of employees edged up to 2, and the average workweek index was unchanged at 2.
The index for future business conditions moved up four points to 29.4; its third consecutive rise.
The index for future new orders remained elevated at 36.6, and the index for future shipments climbed to 37.2. The capital expenditures index climbed six points to 22.1, and the technology spending index rose to 21.2.
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