Monday, November 16, 2015

NY Fed: Manufacturing Activity Declined in November

by Bill McBride on 11/16/2015 08:41:00 AM

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.
...
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.
emphasis added
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.