Monday, June 17, 2013

NY Fed: Empire State Manufacturing index increases in June

by Bill McBride on 6/17/2013 08:38:00 AM

From the NY Fed: Empire State Manufacturing Survey

The June 2013 Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved modestly. The general business conditions index—the most comprehensive of the survey’s measures—rose nine points to 7.8. Nevertheless, most other indicators in the survey fell. The new orders index slipped six points to -6.7, the shipments index fell twelve points to -11.8, and the unfilled orders index fell eight points to -14.5.
...
Labor market conditions worsened, with the index for number of employees dropping to zero and the average workweek index retreating ten points to -11.3.
emphasis added
This was above the consensus forecast of a reading of 0.0.

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