NY manufacturing back above zero but 6 month outlook falls to near one yr low

The February NY manufacturing index rose to +5.7 from -12.6 and vs +2.1 in December and +20.2 in November and -11.5 in October. It's thus very volatile and the internals were mixed. New orders and backlogs rose as did inventories but employment fell back below 50. Of note, prices paid jumped by 11 pts to 40.2, the highest since March 2023 and those received rose to match the highest since May 2023 at 19.6, up 10.3 pts m/o/m.

While the headline got back above zero, the 6 month outlook fell 14.5 pts m/o/m to 22.2, the lowest since May 2024. Capital spending plans fell to a 4 month low.