by Bill McBride on 11/16/2015 08:41:00 AM
Monday, November 16, 2015
From the NY Fed: Empire State Manufacturing Survey
Business activity declined for a fourth consecutive month for New York manufacturers, according to the November 2015 survey. The general business conditions index was little changed at -10.7.This is the first regional survey for November, and manufacturing contracted further in the NY region. This was well below the consensus forecast of a reading of -5.0.
Labor market conditions continued to weaken. The index for number of employees was little changed at -7.3, a sign that employment levels fell for a third consecutive month, and the average workweek index moved down seven points to -14.6, its lowest level since mid-2011.
Indexes for the six-month outlook were little changed from last month, and suggested that optimism about future business conditions remained muted.
Posted by Bill McBride on 11/16/2015 08:41:00 AM