- Prior was +31.2
This is quite a drop from 31.2 but that's looking like it was a big outlier, perhaps related to the election. The good news for the Fed here is that pricing indications are declining the bad news is that new orders are at a six-month low.
Another notable rise is in inventories, which rose at the highest pace since early 2023 while the future measure of inventories is the highest since early 2022; both likely on stockpile building ahead of potential tariffs.
Current Conditions:
| Metric | Current | Previous | Change |
|---|---|---|---|
| General Business Conditions | 0.2 | 31.2 | -31.0 |
| New Orders | 6.1 | 28.0 | -21.9 |
| Shipments | 9.4 | 32.5 | -23.1 |
| Unfilled Orders | -8.4 | -10.3 | 1.9 |
| Delivery Times | -7.4 | 3.1 | -10.5 |
| Inventories | 10.5 | 1.0 | 9.5 |
| Prices Paid | 21.1 | 27.8 | -6.7 |
| Prices Received | 4.2 | 12.4 | -8.2 |
| Number of Employees | -5.8 | 0.9 | -6.7 |
| Average Employee Work Week | -3.9 | 6.1 | -10.0 |
| Supply Availability | 1.1 | -4.1 | 5.2 |
Six Month Forward-Looking Indicators:
| Metric | Current | Previous | Change |
|---|---|---|---|
| General Business Conditions | 24.6 | 33.2 | -8.6 |
| New Orders | 21.8 | 31.4 | -9.6 |
| Shipments | 29.4 | 27.9 | 1.5 |
| Unfilled Orders | 8.4 | 5.2 | 3.2 |
| Delivery Time | 5.3 | 7.2 | -1.9 |
| Inventories | 14.7 | 11.3 | 3.4 |
| Prices Paid | 42.1 | 48.5 | -6.4 |
| Prices Received | 28.4 | 41.2 | -12.8 |
| Number of Employees | 13.8 | 23.9 | -10.1 |
| Average Employee Work Week | 9.5 | 3.1 | 6.4 |
| Capital Expenditures | 11.6 | 13.4 | -1.8 |
| Supply Availability | -4.2 | 1.0 | -5.2 |