Highlights of the April 2021 Empire Fed manufacturing index
- Prior was +17.4
- New orders +26.9 vs +9.1 prior
- Prices paid +74.7 vs +64.4 prior (highest since 2008 when it peaked at 77.9)
- Prices received +34.9 vs +23.9 (record high since survey began in 2000)
- Six month conditions +39.8 vs +36.4 prior
- Employment +13.9 vs +9.4 prior
This is a great report but that jump in prices paid is going to get the market's attention. What's encouraging for the longer term is that the capital expenditure index continues to trend higher and is not far off the best levels since 2005.
