Empire Fed Sept manufacturing survey +11.5 vs -4.75 expected

• General business conditions 11.5 versus -4.7 prior
• Best reading since April 2022
• New orders 9.4 versus -7.9 prior
• Shipments 17.9 versus 0.3 prior
• Unfilled orders 2.1 versus -7.4 prior
• Delivery times -1.1 versus -3.2 prior
• Inventories 0.0 versus -10.6 prior
• Prices paid 23.2 versus 23.4 prior
• Prices received 7.4 versus 8.5 prior
• Number of employees -5.7 versus -6.7 prior
• Average employee workweek 2.9 versus -17.8 prior
• Supply availability -2.1 versus -2.1 prior
• Future business conditions 30.6 versus 22.9 prior
• Future new orders 39.9 versus 24.8 prior
• Future capital expenditures -2.1 versus 8.5 prior

Six-months ahead expectations:

• Future business conditions 30.6 versus 22.9 prior
• Future new orders 39.9 versus 24.8 prior
• Future capital expenditures -2.1 versus 8.5 prior

This is the best reading since April 2022 and a sharp rebound after nearly a year below zero.

“New York State manufacturing activity in September grew for the
first time in nearly a year, with shipments increasing strongly.
However, employment continued to decline modestly. Firms grew
more optimistic that conditions would improve in the
months ahead, though capital spending plans were weak,” said Richard Deitz, Economic Research Advisor at the New York Fed in the release.

This article was written by Adam Button at www.forexlive.com.