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NY Manufacturing Slows; Prices And Jobs Pick Up

DATA REACT

The May NY Fed Empire State Manufacturing Index slowed to 24.3 in May, vs 23.9 expected and 26.3 prior. With most attention on the US macro front paid to employment and inflation dynamics, here's the report pointing out both rising prices and job gains in New York State:

  • "The index for number of employees held steady at 13.6, while the average workweek index climbed six points to 18.7, indicating ongoing gains in employment and hours worked. Both price indexes reached record highs: the prices paid index rose nine points to 83.5, and the prices received index rose two points to 37.1."
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