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.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgIOIAVZmMO5V65Jygf8aOJ0G6M-gnLnqbYDffhpcHK78my9JY73DFDzH0GPTDHRTfB5MoQ79u-qGZJCkwUQznDb6BPYshI7u04dgYF5gHw1Q_OqqCfK7wbo4o-TIZ_F4_vv8zJe6sSlg/s800/emp55.png)
Update:
A reader points out that while the current index dropped, the outlook was quite positive.
Source: NY Fed
Bullet points 8+ run contrary to the headline..
ReplyDelete