JUNE EMPIRE STATE INDEX: -8.7 VS. -3.2 PRIOR
The June Empire State Manufacturing Index fell 5 points to -8.7.
The Prices Paid Index backed off of its high in May, though remained elevated at at 66.3 with 69% of respondents reporting higher prices. The Prices Received Index gained 11 bps to 26.7.
The New Orders Index fell to -5.5, its sixth consecutive month in negative territory. The Shipments Index fell 11bps to -6.5, the Unfilled Orders Index fell to -10.5 and the Inventories Index came in at -2.3.
The Employment Indices were little changed with both the Employees Index and the Average Workweek Index with readings around zero.
Forward looking indices showed subtle improvements in May, however remained subdued.