Preemptive Demand Could Boost Empire State Manufacturing
Dow Jones
Aug 17
1034 ET - Factory activity in New York State grew strongly in August, according to the monthly Empire State Manufacturing Survey. However, supply-chain pressures persisted and likely stemmed from the conflict in the Middle East, which could signal firms getting ahead of further pressures down the road and increasing activity now. "We think that at least some of the upturn in demand this year has reflected a wave of activity intended to get ahead of potential supply chain disruptions linked to the conflict in the Middle East, a support that probably will prove temporary," says Oliver Allen senior U.S. economist at Pantheon Macroeconomics. In the survey, the "prices paid" index rose, likely reflecting the rebound in energy prices since the ceasefire broke down, Allen added.
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