The New York State manufacturing activity index is considered a good barometer of the evolution of the American economy. (Photo: 123RF)
Washington — Manufacturing activity in the New York area of the northeastern United States remained in the red in March, contracting for the fourth month in a row, but much more strongly than in February and also much more than expected.
The index measuring the evolution of this activity fell by 19 points, to fall to -24.6 points, according to the monthly Empire State survey, published on Wednesday by the New York branch of the American central bank (Fed). and carried out with industrialists in the region.
This surprised analysts who saw the index dip less than that, and settle at -8.0 points.
An index below zero means that activity is contracting.
“New orders fell significantly and shipments fell slightly,” details the New York Fed in its press release, adding that “employment and hours worked fell for the second consecutive month”.
Delivery times have shortened for a second consecutive month, suggesting that supply availability has improved and inventories have remained stable.
On the inflation side, the rise in prices, both at the entrance and at the factory outlet, “has slowed down somewhat”.
The companies are not very optimistic and expect only “little improvement in conditions over the next six months”.
Measured in a highly industrialized region, the New York State manufacturing activity index is considered a good barometer of the evolution of the American economy.
