Input Stories

Manufacturing activity in New York State increased in November, with the headline general business conditions index rising 8.0 points to 18.7. The new orders index jumped 12.2 points to 15.9, while the shipments index advanced 2.4 points to 16.8. Unfilled orders declined 1.9 points to -5.8, while inventories climbed 7.7 points to 6.7, indicating business inventories have started to grow after shrinking recently. Meanwhile, delivery times continued to increase, and supply availability ticked down 0.8 points to 11.5.

Employment increased slightly in November, with the index for the number of employees inching up 0.4 points to 6.6. At the same time, the average employee workweek surged to 7.7 from -4.1 in October, signaling a notable increase in hours worked. The prices paid index fell 3.4 points to 49.0, while the prices received index moved down 3.2 points to 24.0, reflecting a slowdown in the pace of price increases.

In November, firms’ optimism regarding the future pulled back from last month’s recent high but remained positive. The future business activity index dropped 11.2 points to 19.1. In the next six months, new orders are still expected to increase, but at a weaker pace than last month at 23.3. The future employment index moved up to 11.9, showing continued anticipation for employment growth over the next six months. Meanwhile, input prices are expected to rise at a slightly slower pace, decreasing from 65.0 to 62.5, while selling price expectations are forecasted to decline minimally, falling 2.4 points to 41.3. Furthermore, capital spending plans strengthened in November, moving up from -2.9 to 11.5.