Empire Manufacturing Outlook at Seven Year High

Will this be enough for them to spend some of that cash hoard?

Source: NY Fed

New York Business Conditions "Deteriorate" in November

Marketwatch details:

Business conditions in the New York area deteriorated in November, as the New York Fed's Empire State manufacturing survey plummeted 27 points to -11.1, driven by a sharp drop in new orders. The release was far worse than economist expectations for a +15 reading and marks the first negative reading since July 2009. The shipments index also fell below zero.

Update:

A reader points out that while the current index dropped, the outlook was quite positive.

Source: NY Fed

Manufacturing Rebound Stalling

The Street details:

The New York Federal Reserve's key manufacturing index that measures activity in the New York region came up short Wednesday morning. The Empire State Manufacturing Survey index dropped 3 points to 4.1 for early September, after rising 2 points for a reading of 7.1 in August. Economists expected the index to decline to a reading of 6.4, according to Briefing.com, though any reading above zero indicates growth.

Source: NY Fed

Empire Manufacturing "Modest" Gain... Orders Fall

NY Fed details:

The Empire State Manufacturing Survey indicates that conditions improved modestly in August for New York manufacturers. The general business conditions index rose 2 points from its July level, to 7.1. The new orders and shipments indexes both dipped below zero for the first time in more than a year, indicating that orders and shipments declined on balance; the unfilled orders index was also negative.

Source: NY Fed

Empire State Manufacturing Slumps

This is just one month of data, but this is an ugly report for those expecting a strong recovery. Of note... employment (slowing growth in number, decline in hours worked) and inventory (the inventory rebuild that drove the last 3 quarters growth appears to be over).

Source: NY Fed

NY Manufacturing Index Shown Strength

Marketwatch details:

Manufacturing activity in the New York region continued at a solid pace in March, the New York Federal Reserve Bank said Monday. The bank's Empire State Manufacturing index slipped to 22.9 in March from 24.9 in February. The index had plunged in December but has since recovered. The details of the report were strong. The new orders index shot up 17 points to 25.4. Shipments also moved higher. Inventories climbed above zero for the first time since August 2008.

The index for the number of employees rose to its highest level in more than two years. The Empire State index is of interest to investors and economists primarily because it is seen as an early indicator of what the Institute for Supply Management's March national factory survey due out in two weeks may show. In February, the ISM manufacturing index inched lower to 56.5 but continued to point to solid growth in the factory sector.

Source: NY Fed

New York City: Dunkin Town

As a New Yorker, this definitely surprised me...




Source: Metro