Friday, October 15, 2010

Empire Manufacturing Jumps

I can't remember... is good news good because it's good or bad because less bad means less stimulus? Either way, this appears to be good.

Marketwatch reports solid manufacturing data out of New York:

Conditions for New York state manufacturers improved markedly in October, according to a report released Friday morning.

The New York Fed’s Empire State manufacturing survey jumped nearly 12 points to 15.7. Economists polled by MarketWatch expected the gauge to climb to 6.5 from 4.1 in September.

The New York Fed said it’s a clear gain over the relatively low but positive readings seen from July through September. Fewer respondents said conditions had worsened, and the new orders index moved higher. The shipments index rose above zero, climbing 20 points to 19.4.

Source: NY Fed

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