- 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
