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Economy in Brief
EMU Trade Surplus Expands on Weak Import Rise
In the EMU, both import and export gains were modest in January...
U.S. JOLTS: Job Openings Remain Abundant
The Bureau of Labor Statistics reported that the total job openings rate increased to 4.8% during January...
U.S. Industrial Production Edges Higher
Industrial production increased a less-than-expected 0.1% (3.5% y/y) during February...
Empire State Manufacturing Index Retreat Suggests Continued Slow Growth
The Empire State Manufacturing Index of General Business Conditions fell to 3.7 this month...
EMU Inflation Trends Are Still Weak
The EMU HICP for February gained 0.1%, the same as in January, after a 0.2% decline in December...
by Tom Moeller February 3, 2015
The Institute for Supply Management reported that, for New York State, their January index of business conditions expected in six months declined to 66.9, the lowest level in nine months. In addition, the reading for current economic conditions fell to 44.5, the first month below the breakeven level of 50 since June 2013.
Pricing power, however, improved. The January index of prices paid rose to 67.5, its highest level since May 2011.
The ISM figures are diffusion indexes and can be found in Haver's SURVEYS database. A diffusion index reading of more than 50% denotes growth while a reading of under 50% implies a contraction.
Persistent Overoptimism about Economic Growth from the Federal Reserve Bank of San Francisco is available here.
| ISM New York (Diffusion Index) | Jan | Dec | Nov | Jan'14 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Economic Conditions Six Months Hence (SA) | 66.9 | 72.9 | 70.5 | 70.0 | 69.5 | 65.0 | 64.9 |
| Current Economic Conditions (SA) | 44.5 | 70.8 | 62.4 | 64.4 | 59.7 | 58.4 | 55.2 |
| Prices Paid (NSA) | 67.5 | 54.5 | 62.5 | 63.0 | 61.2 | 55.3 | 56.4 |
