US Empire State manufacturing index dropped to 4.9 in December, down from 6.3. New orders increased marginally, and shipments were modestly higher. Inventories continued to move lower, and delivery times edged up. Employment posted its strongest gain in months, and the average workweek lengthened somewhat. Input prices increased at the fastest pace in two years, while selling prices increased at about the same pace as last month.
Import price index rose 0.1% mom in November, below expectation of 0.3% mom.
