What is the Empire Manufacturing Index?
The Empire Manufacturing Index is a monthly survey of CEOs & executives from manufacturing companies conducted by the Federal Reserve Bank of New York; highlighting the state of manufacturing the New York region. Respondents rate the changes of 11 indicators, including new orders, shipments, unfilled orders, delivery time, inventories, prices paid, and prices received. The other indicators focus on workforce and include the number of employees, average workweek, technology spending, and capital expenditures. These come together to provide the view of general business conditions.
Why is the Empire Manufacturing Index valuable?
The combination of the region surveyed and the knowledge of manufacturing executives makes the Empire Manufacturing Index an invaluable tool to understand industry conditions. Additionally, this index provides a more intimate look into the economy. Because of the industry tenure of executives, the index provides better conclusions about what’s happening as it is happening.
What should you do?
If you’re looking to better understand the state of manufacturing and the economy from an insider perspective, the Empire Manufacturing Index is the place to start. Majestic’s CORE Report follows the Empire Manufacturing Index; along with other indicators every week to see where the market stands.