Monitor the US Empire State Manufacturing Index to gauge economic trends. A key indicator for business sentiment and future activities.
This serves as a key indicator of economic health, as businesses swiftly respond to market conditions. Shifts in their sentiment can signal future economic activities such as spending, hiring, and investment. A value above 0.0 suggests improving conditions, while a value below indicates deteriorating conditions.
What it Measures
It reflects the level of a diffusion index derived from surveys of manufacturers in New York state.
Usual Effect
'Actual' results exceeding 'Forecast' are favorable for the currency.
Source & Frequency
Federal Reserve Bank of New York (latest release) - https://www.newyorkfed.org/ • Published monthly, typically around the middle of the month.
How Data is Derived
Survey of about 200 manufacturers in New York state which asks respondents to rate the relative level of general business conditions
Also Known As
New York Manufacturing Index
Acronym
N/A