Make Kitco Your Homepage

Empire State Manufacturing Index Rises To 21.1 In October

Kitco News

Editor's Note: Updating earlier story with more details from report.

(Kitco News) - The headline index in the New York Federal Reserve’s Empire State manufacturing survey climbed to a reading of 21.1 in October from 19.0 the prior month.

Going into the report, consensus expectations compiled by various news organizations had been for the reading to be roughly where it stood in September. Readings above zero in such diffusion indexes indicate economic expansion, and vice versa.

The index for new orders rose to 22.5 in October from 16.5 in September, while the reading for shipments surged to 26.3 from 14.3.

The readings for the inflation indexes pulled back. The one for prices paid eased to 42.0 from 46.3, while the one for prices received fell to 14.3 from 16.3

Likewise, the employment indexes were not as strong as in September. The reading for number of employees fell to 9.0 from 13.3, while the one for average employee work week fell to 0.2 from 11.5.


Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.