US Empire manufacturing Index for October -4.60 versus -7.00 estimate. Prior month 1.90.

<ul><li><a href="https://www.forexlive.com/centralbank/us-empire-fed-manufacturing-index-for-september-190-versus-1000-estimate-20230915/" target="_blank" rel="follow">Prior month 1.90</a></li></ul><p>Details:</p><ul><li>New orders -4.2 versus 5.1 last month</li><li>Shipments 1.4 versus 12.4 last month</li><li>Prices paid 25.5 versus 25.8 last month</li><li>Prices received 11.7 versus 19.6 last month</li><li>Employment 3.1 versus -2.7 last month</li><li>average employee work week 2.2 versus -5.0 last month</li><li>Unfilled orders -19.1 versus -5.2 last month</li><li>Delivery times -6.4 versus 2.1 last month.</li><li>Inventories -2.1 versus -6.2 last month</li><li>Average work week versus -5.0 last month</li></ul><p>6 month forward:</p><ul><li>General business conditions 23.1 versus 26.3 last month</li><li>New orders 19.4 versus 34.8 last month.</li><li>Shipments 15.2 versus 33.7 last month.</li><li>Prices paid 28.7 versus 37.1 last month.</li><li>Prices received 16.0 versus 28.9 last month. </li><li>Employment 21.0 versus 15.9 last month.</li><li>Average employee work week 5.3 versus 0.0 last month.</li><li>Unfilled orders -5.3 versus 5.2 last month.</li><li>Delivery time -4.3 versus 4.1 last month.</li><li>Inventories 5.3 versus 0.0 last month.</li><li>Capital expenditures 9.6 versus 10.3 last month. </li><li>Technology spending 4.3 versus 5.2 last month</li></ul><p>In Summary:</p><p>Business activity in New York State decreased slightly in October 2023, with the general business conditions index falling to -4.6, down seven points. New orders also declined, while shipments remained largely unchanged. Unfilled orders decreased, and delivery times shortened, while inventories remained steady. Employment and the average workweek saw slight increases. Input prices rose at a similar pace to the previous month, while selling price increases moderated. </p><p>Despite some concerns, firms maintained relative optimism about future conditions (6 month forward), with expectations of increased orders, shipments, and employment, albeit at a more moderate pace, while capital spending plans remained somewhat weak.</p>

This article was written by Greg Michalowski at www.forexlive.com.