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Empire State Manufacturing Index value range for January 2025?
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New York Federal Reserve•Empire State Manufacturing Index•Donald Trump•New York•Goldman Sachs•Personal Consumption Expenditures
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The New York Federal Reserve's release of the Empire State Manufacturing Index report for January 2025
Story
Empire State Manufacturing Index Plummets to 0.2, Easing Inflation Pressures
Dec 16, 2024, 01:31 PM
The New York Federal Reserve's Empire State Manufacturing Index for December 2024 fell to 0.2, significantly below the expected +10.0 and a sharp decline from the previous month's +31.2. This drop marks the largest sequential decrease since May 2023, following a surge to an almost three-year high in November after Donald Trump's election. The index's decline indicates a cooling in manufacturing activity in New York state, with new orders dropping to +6.1 from +28.0. Additionally, inflation pressures are easing as the prices received index hit its lowest level since July 2023, and prices paid reached their lowest in a year. Goldman Sachs forecasts a +0.15% increase in the Personal Consumption Expenditures (PCE) index for November.
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