Business activity grew modestly in New York State
Business activity grew modestly in New York State, according to firms responding to the July 2017 Empire State Manufacturing Survey. The headline general business conditions index fell ten points to 9.8. The new orders index moved down to 13.3, and the shipments index fell to 10.5, suggesting that orders and shipments continued to grow, though at a somewhat slower pace than in June. Delivery times continued to lengthen, and inventory levels were fairly steady.
Labor market indicators pointed to a small increase in employment and no change in hours worked. Input prices and selling prices rose at about the same pace as last month. Indexes assessing the six-month outlook suggested that firms remained positive about future conditions, though they were less optimistic than in June.
- U.S building permits and housing starts rose more than expected in January
- Chicago Business Barometer rose to 67.6 in December, up from 63.9
- U.S import and export prices rose more than expected in January
- Canadian manufacturing sales declined 0.3% to $55.5 billion in December