May 2021 Empire State Manufacturing Index Declines
Analyst Opinion of Empire State Manufacturing Survey
Key elements are in positive territory and all improved. This report is considered about the same as last month.
Econintersect reminds you that
this is a survey (a quantification of opinion). Please see the caveats at the end of this post. However, sometimes it is better not to look too deeply into the details of a noisy survey as just the overview is all you need to know
Expectations from Econoday were between 20.0 to 30.0 (consensus +25.0) versus the 24.3 reported. Any value above zero shows expansion for the New York area manufacturers.
Provided by Dow Jones By Xavier Fontdegloria Manufacturing activity in New York state continued to expand in May but the growth pace slowed slightly compared with April amid widespread supply strains, data from the Federal Reserve Bank of New York showed Monday. The Empire State Manufacturing Survey s general business conditions index fell to 24.3 in May from 26.3 in April. The reading is broadly in line with the consensus forecast from economists polled by The Wall Street Journal, who expected the indicator to decrease to 24.8. Manufacturing activity in the state has grown for 11 consecutive months, the survey signals, as the headline index has remained within expansion territory since July 2020. The pace of growth has accelerated in the last few months amid strong demand for goods.
Written by GaryDOW, SP 500 decline Monday as tech stocks face fresh selling (SPY -0.5%). Parts of east coast still face gas shortages despite pipeline restart. Offshore wind requires 63,000lbs of copper per turbine.
NEW YORK Stock indexes were lower globally on Monday with technology shares on Wall Street falling, while U.S. Treasury yields traded little changed even…
NEW YORK: Stock indexes were lower globally on Monday with technology shares on Wall Street falling, while US Treasury yields traded little changed even after a report showing the highest prices ever paid in a May manufacturing survey for New York state.
Concerns over inflationary pressure helped to lift gold prices to their highest in more than three months, however.
The Empire State Manufacturing Survey, produced by the New York Fed, showed the prices paid index rose to a record 83.5, the highest since the data series began in 2001, said Tom Simons, money market economist at Jefferies & Co.
Wall Street’s declines follow the S&P 500’s biggest one-day jump in more than a month on Friday.