Empire State Index Pos. for 11th Month
From the NY FED's Empire State Manufacturing Survey:
"The Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved in June. The general business conditions index inched up to 19.6, slightly above its May reading of 19.1. The index has now been above zero for eleven consecutive months, indicating an ongoing expansion in business activity. The new orders index rose modestly, to 17.5, and the shipments index climbed to 19.7. The unfilled orders index was negative for a third consecutive month, at -1.2. The delivery time index rose more than 16 points to 9.9, suggesting that delivery times lengthened in June. The inventories index remained near zero after posting positive readings in March and April, indicating that inventory levels have stabilized.
Future indexes remained firmly in positive territory, although the readings, like last month's, suggest that respondents' optimism had fallen slightly from the relatively high levels reached in prior months. The future general business conditions index declined for a second consecutive month, edging down a little more than a point to 40.7."