EMPIRE STATE MFG INDEX — GENERAL BUSINESS CONDITIONS: 0.6
The Apr. Empire State Manufacturing Survey showed a sharp improvement from March to April with the General Business Conditions index coming in a 0.6, 23 points higher than the March reading and well above the expected -17 level.
New Orders essentially came back to flat at 0.06, a slight improvement on the -4.69 reading in March.
The Shipments Index reversed course as well, coming in at 17.49 vs. -5.20 in March.
The Unfilled Orders Index fell 7 points to -6.3.
The Prices Paid Index was up for the 4th consecutive month at 57.3, its highest level since Nov-05, with 59% of respondents reporting higher prices. Prices Rec’d were up 5 points to 20.8.
Indices for Employees and Average Workweek were at 0.
The survey indicates a weakened outlook on the part of respondents with the Future General Business Conditions Index at 19.6, near a record low. The Capital Expenditures Index fell to 11.5, the lowest level since 2003.