Washington (awp/afp) – Manufacturing activity in the highly industrialized New York region recovered unexpectedly in September, recording slight growth after the sharp contraction of the previous month, thanks in particular to an increase in new orders .
The index measuring this activity increased by 21 points compared to August, and stood at 1.9 points, according to the monthly Empire State survey published Friday by the New York branch of the Federal Reserve (Fed) .
This is much better than expected, since analysts were counting on a second month of contraction in activity, although less severe than in August, and saw the index settling at -10 points, according to the Market consensus. Watch.
“New orders and shipments increased. Delivery times remained stable and inventories continued to contract,” details the New York Fed in its press release.
On the labor market side, indicators “point towards a slight decline in employment levels and the average length of the working week”.
As for inflation, it remains stable for the prices of supplies, raw materials and spare parts. But it is accelerating for the prices at which manufacturers sold their products.
And for the months to come, companies are increasingly optimistic about activity.
The New York Area Manufacturing Activity Index is considered a reliable barometer of the U.S. economy.
afp/al
2023-09-15 13:12:02
#USA #manufacturing #activity #York #recovers #September
