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2025-12-15 21:44:54
[New York State Manufacturing Activity Unexpectedly Contracts, Weak Demand Dragging It Down, But Future Expectations Improve] ⑴ Data released Monday by the Federal Reserve Bank of New York showed that New York State manufacturing activity unexpectedly contracted in December after two consecutive months of expansion, with the business conditions index falling sharply by 22.6 points to -3.9, well below the market expectation of a positive 10.0. ⑵ This contraction was mainly dragged down by a sharp drop in shipments, with the shipments sub-index plummeting 22.5 points to -5.7, falling into contraction territory. Meanwhile, backlogs decreased, and supply availability also deteriorated. ⑶ Although price increases slowed for the second consecutive month, they remained high, indicating that cost pressures persist. ⑷ However, the new orders sub-index remained stable, employment showed moderate growth, and business capital expenditure plans increased. ⑸ The business conditions expectations index, which measures the outlook for the next six months, rose to its highest level since January, indicating that manufacturers' optimism about the medium-term outlook has strengthened.
