(New York Fed) The New York State posted an unchanged manufacturing activity in January, with the general business conditions index down by third-three points to the negative territory of -0.7.
The fall in business conditions in New York happens after eighteen months of posting positive values, with only 22% of respondents saying conditions have improved over the month. 23% say the conditions have worsened.
The new orders index fell by thirty-two points to a negative index of -5.0, reflecting a decline in orders over the month.
The shipments remained little changed, with the index at 1.0. Unfilled orders held steady at an index of 12.1.
Delivery times lengthened, with the lead times gauge at 21.6 in January. Inventories rose modestly.
Employment and hours worked rose, with the number of employees index down by five points to 16.1. The average workweek index was down to 10.3.
Input and output prices maintained at high levels despite easing slightly, with the prices paid gauge down by four points to 76.7. Prices received index shed eight points to 37.1.
Firms remained optimistic of the business conditions over the next six months, with the index holding steady at 35.1, although the prices index edged to record highs.
SPY is down -1.44%, DXY is up +0.37%.
