FOREX TradingCharts.com

Financial News: New York Manufacturing Index Indicates Notably Slower Grow

New York Manufacturing Index Indicates Notably Slower Growth In October

10/15/2021 - 10:05:00 (RTTNews)

(RTTNews) - A report released by the Federal Reserve Bank of New York on Friday showed a notable slowdown in the pace of growth in regional manufacturing activity in the month of October.

The New York Fed said its general business conditions index tumbled to 19.8 in October from 34.3 in September, although a positive reading still indicates growth. Economists had expected the index to pull back to 27.0.

The steep drop by headline index came as the new orders index slumped to 24.3 in October from 33.7 in September, while the shipments index plunged to 8.9 from 26.9.

The report said the number of employees also fell to 17.1 in October from 20.5 in September, but the positive reading still indicates job growth.

Meanwhile, the New York Fed said the delivery times index inched up to a new record high of 38.0 in October from 36.5 in September.

The prices paid index also rose to 78.7 in October from 75.7 in September, while the prices received index slid to 43.5 from 47.8.

Looking ahead, the New York Fed said firms were still very optimistic that conditions would improve over the next six months. The index for future business conditions increased to 52.0 in October from 48.4 in September.

"Supply, not demand, is manufacturing's major current problem," said Oren Klachkin, Lead U.S. Economist at Oxford Economics. "There's no quick fix to the multiple, simultaneous issues that are presently restraining growth."

"Our supply chain tracker signals that stress is still rising, and we don't expect these challenges to meaningfully dissipate until well into 2022," he added. "In the meantime, factories will do their best to keep up with robust demand."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


European Economics Preview: Germany Foreign Trade Data Due (50 min(s), 52 sec(s) ago)
(RTTNews) - Foreign trade data from Germany is due on Thursday, headlining a light day for the Eur ...Full Story»

China Inflation Accelerates; Factory Gate Inflation Slows (01 hr(s), 03 min(s), 52 sec(s) ago)
(RTTNews) - China's consumer price inflation accelerated notably in November driven by the reb ...Full Story»

China Consumer Prices Rise 2.3% On Year In November (12 min(s), 08 sec(s) ago)
(RTTNews) - Consumer prices in China were up 2.3 percent on year in November, the National Bureau ...Full Story»

Chinese Inflation Data On Tap For Thursday (09 min(s), 08 sec(s) ago)
(RTTNews) - China will on Thursday release November numbers for consumer and producer prices, high ...Full Story»

France Payroll Employment Increases At Slower Pace (40 min(s), 08 sec(s) ago)
(RTTNews) - France payroll employment increased at a slower pace in the third quarter, data from t ...Full Story»

Latvia Inflation Surges In November (06 min(s), 08 sec(s) ago)
(RTTNews) - Latvia's consumer price inflation accelerated in November, preliminary data from t ...Full Story»

South Africa Retail Sales Increase For Second Month (08 sec(s) ago)
(RTTNews) - South Africa's retail sales rose for the second straight month in October, data fr ...Full Story»

Hungary Inflation Rises In November (25 min(s), 08 sec(s) ago)
(RTTNews) - Hungary's consumer price inflation accelerated in November, data from the Hungaria ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

European Economics Preview: Germany Foreign Trade Data Due

12/09/2021 - 00:34 AM (RTTNews)
(RTTNews) - Foreign trade data from Germany is due on Thursday, headlining a light day for the Eur ...Full Story>>

China Inflation Accelerates; Factory Gate Inflation Slows

12/09/2021 - 00:21 AM (RTTNews)
(RTTNews) - China's consumer price inflation accelerated notably in November driven by the reb ...Full Story>>

China Consumer Prices Rise 2.3% On Year In November

12/08/2021 - 20:37 PM (RTTNews)
(RTTNews) - Consumer prices in China were up 2.3 percent on year in November, the National Bureau ...Full Story>>

Chinese Inflation Data On Tap For Thursday

12/08/2021 - 17:34 PM (RTTNews)
(RTTNews) - China will on Thursday release November numbers for consumer and producer prices, high ...Full Story>>

France Payroll Employment Increases At Slower Pace

12/08/2021 - 07:05 AM (RTTNews)
(RTTNews) - France payroll employment increased at a slower pace in the third quarter, data from t ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.