(CercleFinance.com) – Manufacturing production in the New York region contracted again in June, notably due to longer delivery times, the New York Federal Reserve announced on Wednesday.
Its Empire State index stood at -1.2 this month against -11.6 in May, while economists saw it return to positive territory, around +3 points.
While the new orders sub-index went back into the green, at +5.3 against -8.8 the previous month, that of delivery times fell sharply, from 20.2 to 14.5.
With regard to employment, the workforce component improved, rising from 14 to 19, while that of the average weekly working time declined, falling from 11.9 to 6.4.
This leading indicator is one of the first to provide an overview of the evolution of the manufacturing industry in the United States, from the month in question.
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