Empire fed manufacturing index rises to 10.8
- Prior was -24.60
- Empire manufacturing index 10.8 versus -18.0 expected
- New orders 25.1 versus -21.7 last month
- Shipments 23.9 versus +13.4 last month
- Prices paid 33.0 versus 41.9 last month
- Employment -8.0 versus -10.1 last month
- prices received 23.7 versus +22.9 last month
- Inventories 8.2 versus -1.9 last month
- Delivery times 0.0 versus -7.6 last month
- Unfilled orders 0.0 versus -6.7 last month
six-month forward
- 6 month business conditions 6.6 versus 2.9 last
- new orders 6.6 versus 613 last month
- shipments 7.6 versus 13.3 last month
- unfilled orders -3.1 versus 5.7 last month
- delivery time -2.1 versus -7.6 last month
- inventory is -5.2 versus -11.4 last month
- prices paid 37.1 versus 31.4 last month
- prices received 29.9 versus 27.6 last month
- employees 13.4 versus -4.1 last month
- average employee work week 5.2 versus 6.7 last month
- capital expenditures 16.5 versus 13.3 last month
- technology spending 10.3 versus 13.3 last month
The data for the Empire manufacturing can swing around. Last month the number came in at -24.6 will versus expectations of -8.0.
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Looking at Fed policy expectations:
- 86% probability of a 25 basis point hike in May
- Around 28 basis points of cuts through the end of this year
US yields are moving higher with the two year now up 6.8 basis points of 4.171%. The 10 year yield is trading at 4.2 basis points at 3.564%.
S&P index is trading near unchanged on the day. The Dow industrial average is trading up 19.53 points. And the NASDAQ index is trading down -10 points