15.10.202612:35:50UTC+00NY Manufacturing Activity Rises the Most in Nearly 5 Years

The NY Empire State Manufacturing Index rose to 25.5 in October from 7.6 in September, far exceeding the consensus forecast of 10.3 and marking the strongest improvement in New York manufacturing conditions since December 2021. The new orders index jumped 21 points to 23.2, and the shipments index climbed 16 points to 13.1, indicating robust gains in demand and activity. Unfilled orders increased and delivery times lengthened, while supply availability deteriorated to its weakest level since June 2022. The index for the number of employees was unchanged at 10.3, pointing to continued modest employment growth. Price pressures remained elevated: the prices paid index eased to 59.5 from a recent four-year high, whereas the prices received index advanced to 30.6. Business optimism softened, but firms still anticipated further growth in orders, shipments, and employment. At the same time, supply availability is expected to worsen, both future price indexes moved higher, and capital spending plans stayed subdued.