Previous : -3.2
Forecast : -1.5

Definition :
The New York Fed conducts this monthly survey of manufacturers in New York State. It is a seasonally adjusted index usually released around the middle of each month where participants from across the state, of roughly 175 manufacturing executives (usually the CEO or the president), represent a variety of industries, are sent a questionnaire to report the change in an assortment of indicators from the previous month.

They also give their views about the future projections of these same indicators six months ahead. This index is seasonally adjusted using the Philadelphia Fed's seasonal factors because its own history is not long enough with data only going back a couple of years.

Why is it useful?
The index is not much of a market region and rarely moves the currencies market, as the index is rather indicative to a defined region rather than a comprehensive index for the entire economy in the US.

Thereby US indices tend to react much more and better performance as well as strong expectations over the upcoming period means higher sectors performance, meaning higher stocks value. Thereby in such indicators that are more on specified regions than the aggregate economy they tend to move US equities more than Forex markets, and still the index it self is considered of moderate impact despite that it is from one of the most populated states in the US.