FOREX TradingCharts.com

Financial News: New York Manufacturing Index Shows Notable Rebound In

New York Manufacturing Index Shows Notable Rebound In November

11/15/2022 - 09:51:00 (RTTNews)

(RTTNews) - New York manufacturing activity has seen a notable rebound in the month of November, the Federal Reserve Bank of New York revealed in a report released on Tuesday.

The New York Fed said its general business conditions index surged to a positive 4.5 in November from a negative 9.1 in October, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to jump to a positive 5.0.

The rebound by the headline index partly reflected a turnaround by shipments, with the shipments index climbing to a positive 8.0 in November from a negative 0.3 in October.

The number of employees index also rose to 12.2 in November from 7.7 in October, indicating a faster pace of job growth.

On the other hand, the new orders index slid to a negative 3.3 in November from a positive 3.7 in October, suggesting a slight decrease in new orders.

The report also showed the prices paid index inched up to 50.5 in November from 48.6 in October, while the prices received index climbed to 27.2 from 22.9.

Meanwhile, the New York Fed said firms expect business conditions to worsen over the next six months, with the index for future business conditions falling to a negative 6.1 in November from a negative 1.8 in October.

"Although manufacturing activity returned to expansion, activity is expected to slow heading into 2023," said Gurleen Chadha, U.S. Economist at Oxford Economics.

She added, "Weakening domestic demand, high inflation, elevated interest rates, and recessionary pressures are likely to constrain the sector's advance."

On Thursday, the Philadelphia Federal Reserve is scheduled to release its report on regional manufacturing activity in the month of November.

Economists currently expected the Philly Fed Index to inch up to a negative 6.2 in November from a negative 8.7 in October.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Greek Economy Shrinks For First Time In 2 Years On Energy Subsidies (09 min(s), 37 sec(s) ago)
(RTTNews) - Greece's economy turned to contraction for the first time since the third quarter ...Full Story»

Eurozone Q3 GDP Growth Revised Up To 0.3% On Household Spending, Investment (22 min(s), 37 sec(s) ago)
(RTTNews) - The euro area economy posted a better-than-initially estimated growth in the third qua ...Full Story»

Finland Trade Deficit Widens In October (01 hr(s), 03 min(s), 37 sec(s) ago)
(RTTNews) - Finland's trade deficit widened in October as the increase in imports exceeded the ...Full Story»

Reserve Bank Of India Slows Rate Hikes On Weaker Growth Outlook (01 hr(s), 19 min(s), 37 sec(s) ago)
(RTTNews) - India's central bank raised its benchmark interest rates for the fifth policy meet ...Full Story»

Taiwan Exports Fall Most In Nearly 7 Years (01 hr(s), 25 min(s), 37 sec(s) ago)
(RTTNews) - Taiwan's exports declined for the third straight month in November, and at the fas ...Full Story»

Philippines Industrial Production Rises; Jobless Rate Falls To 4.5% (03 hr(s), 21 min(s), 37 sec(s) ago)
(RTTNews) - The Philippines' industrial production index increased in October and the unemploy ...Full Story»

Italy Retail Sales Fall 0.4% In October (03 hr(s), 24 min(s), 37 sec(s) ago)
(RTTNews) - Italy's retail sales decreased in October after rebounding in the previous month, ...Full Story»

Will Germany Avoid A Recession On Industrial Resilience? (03 hr(s), 36 min(s), 37 sec(s) ago)
(RTTNews) - Germany industrial production dropped only slightly in October despite the sharp weakn ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Greek Economy Shrinks For First Time In 2 Years On Energy Subsidies

12/07/2022 - 08:01 AM (RTTNews)
(RTTNews) - Greece's economy turned to contraction for the first time since the third quarter ...Full Story>>

Eurozone Q3 GDP Growth Revised Up To 0.3% On Household Spending, Investment

12/07/2022 - 07:48 AM (RTTNews)
(RTTNews) - The euro area economy posted a better-than-initially estimated growth in the third qua ...Full Story>>

Finland Trade Deficit Widens In October

12/07/2022 - 07:07 AM (RTTNews)
(RTTNews) - Finland's trade deficit widened in October as the increase in imports exceeded the ...Full Story>>

Reserve Bank Of India Slows Rate Hikes On Weaker Growth Outlook

12/07/2022 - 06:51 AM (RTTNews)
(RTTNews) - India's central bank raised its benchmark interest rates for the fifth policy meet ...Full Story>>

Taiwan Exports Fall Most In Nearly 7 Years

12/07/2022 - 06:45 AM (RTTNews)
(RTTNews) - Taiwan's exports declined for the third straight month in November, and at the fas ...Full Story>>

Do not sell my personal information

Copyright © 2022. 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.