U.S. Empire State manufacturing index slid to 1.3 in April U.S. Empire State manufacturing index slid to 1.3 in April after rebounding to 5.6 in March, weaker than expected. The index hit a recent high of 12.5 in January which was the best since May 2012. The components were mixed. Employment improved to 8.2 from 5.9. The workweek dipped to 2.0 from 4.7. New orders dropped to -2.8 from 3.1. Prices paid edged up to 22.5 from 21.2. Prices received climbed to 10.2 from 2.4. The 6-month outlook index rose to 38.2 from 33.2, with the future employment index at 22.5 from 17.7 and capital expenditures at 23.5 from 16.5.
Futures remain higher following economic data Stock futures remain higher following the release of the consumer prices report and the Empire Manufacturing report. The CPI data showed that consumer prices rose 0.2% overall versus the expected increase of 0.1% while the core reading, which removes food and energy, was also up 0.2% versus the expected increase of 0.1%. The Empire Manufacturing Index for April came in at 1.29 versus expectations of a reading of 8.00.
U.S. NY Fed "Empire State" Preview U.S. NY Fed "Empire State" Preview: The first of the April producer sentiment measures will be released in the form of the Empire State index. Analysts expect the headline to improve to 8.0 (median 8.0) after a gain to 5.6 in March. Broadly analysts expect producer sentiment to continue to rebound from the dip analysts saw in February of this year.