New York Fed: Manufacturing Activity Little Changed
Business activity grew to a small degree in New York State, according to firms responding to the January 2020 Empire State Manufacturing Survey. The headline general business conditions index was little changed at 4.8. New orders and shipments edged higher. Delivery times were somewhat shorter, and inventories held steady. Employment continued to expand, though the average workweek was unchanged. Both input prices and selling prices increased at a significantly faster pace than in December. Optimism about the six-month outlook remained subdued, and capital spending plans remained firm.