New York manufacturers in the metropolitan area estimated a 7 percent decline in normal October revenue and a 5 percent drop in November revenue from Hurricane Sandy”™s  disruptions and damage to businesses and supply chains.
The region”™s manufacturers, though, expected no effect on net revenue from Sandy in December, the Federal Reserve Bank of New York reported in its monthly Empire Manufacturing Survey.
General business conditions for the state”™s manufacturers declined for the fifth consecutive month in December, with a three-point drop on the Federal Reserve index indicating a modest pace of decline.
Of manufacturers surveyed, 15 percent said conditions had improved over the month, while 23 percent reported that conditions had worsened.
The Federal Reserve”™s new orders index fell seven points to -3.7, indicating a small drop in demand for manufactured goods, federal economists reported. After posting November gains, the shipment index fell six points to 8.8, indicating a slower rise in shipments than the previous month.
Manufacturers again paid moderate price increases in December, while their selling prices were generally flat, according to the federal survey.
Manufacturing employment indexes were negative for the second straight month in a weaker labor market.
Predicting their costs in 2013, manufacturers surveyed expect an average 7.2 percent hike in employee benefits, compared with a 6.4 percent average benefits increase in 2012. They expect their overall costs to increase 4 percent on average, compared with an average 3.7 percent increase in 2012.
