NY Fed: Empire State Manufacturing Activity “held steady” in October

NYFed: EmpireStateManufacturingActivity "heldsteady" inOctober

From the NY Fed: EmpireStateManufacturingSurvey

The October 2013 Empire State Manufacturing Survey indicates that business conditions held steady for New York manufacturers. The general businessconditionsindexfell 5 pointsto 1.5. The new orders index rose five points to 7.8 …

Labor market conditions were also steady, with the index for number of employees falling four points to 3.6 and the average workweek index inching up to 3.6. Indexes for the six month outlook continued to convey a strong degree of optimism about future business conditions. Thefuture general businessconditionsindexheldnearlastmonth’syear-and-a-halfhigh, at 40.8. The indexes for expected new orders and expected shipments also remained at strong levels.

emphasis added

This is the first of the regional surveys for October. The general business conditions index was below the consensus forecast of a reading of 7.0, but shows continued modest expansion.

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