New York State manufacturers recover

JAKARTA: After dropping sharply into negative territory in November, the general business conditions index bounced back above zero, climbing 22 points to 10.6, Federal Reserve Bank of New York's US Empire State Manufacturing Survey showed. The number
News Editor | 16 Desember 2010 00:10 WIB

JAKARTA: After dropping sharply into negative territory in November, the general business conditions index bounced back above zero, climbing 22 points to 10.6, Federal Reserve Bank of New York's US Empire State Manufacturing Survey showed. The number was higher than the concensus which predicted it to climb to 5.The new orders and shipments indexes also rose above zero, while the unfilled orders index remained negative. The inventories index was negative, indicating that inventory levels were lower over the month. The indexes for both prices paid and prices received were positive and higher than last month, suggesting that prices rose, while employment indexes were negative, indicating that employment declined. Future indexes were generally at high levelsa sign that conditions were expected to improve over the next six months. Significantly, the future prices paid index was positive and rose sharply, indicating that respondents expected input prices to accelerate.In a series of supplementary questions, respondents were asked about recent and expected changes in the prices paid by firms for several major budget categories, including wages, employee benefits, insurance, energy, and other commodities. The same questions had been asked in December 2009 and in earlier years. Respondents reported that in 2010, prices paid overall rose 4.3% on average, and they predicted that this rate would accelerate slightly to 4.5% in 2011. The steepest increase foreseen was in employee benefits, where prices were expected to climb 10.1%, up from the 8.9% increase observed in 2010. The average respondent reported a 64% chance that prices would rise at least 2% over the next six months but ony a 12% chance that they would increase at least 8%. (NOM)

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Editor : Muhammad Fariz Aulia

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