Tuesday, February 17, 2009

Empire Manufacturing Survey

Bloomberg reports:

Manufacturing in New York contracted in February at the fastest pace on record, signaling the recession that began more than a year ago is intensifying.

The Federal Reserve Bank of New York’s general economic index fell to minus 34.7, the lowest level since records began in 2001, from minus 22.2 percent in January, the bank said today. Readings below zero for the Empire State index signal manufacturing activity is shrinking.

Source: New York Fed

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