by Bill McBride on 7/16/2012 11:27:00 AM
Monday, July 16, 2012
This was released earlier ... from the NY Fed: Empire State Manufacturing Survey
The general business conditions index rose five points to 7.4. New orders, however, declined, as that index slipped into negative territory for the first time since November 2011, falling five points to -2.7.This was the first regional manufacturing surveys released for July. The general business conditions index was slightly better than expected although new orders were down. The employment index was the highest since March.
Employment levels climbed higher, with the employment index rising six points to 18.5, while the average workweek index fell three points to zero.
Indexes for the six-month outlook generally remained favorable, but held at levels below those seen earlier this year. The future general business conditions index fell three points to 20.2, with 37 percent of respondents expecting improved conditions in the months ahead and 17 percent anticipating a worsening.
The Philly Fed index was especially weak in June, and the July index will be released on Thursday.
Posted by Bill McBride on 7/16/2012 11:27:00 AM