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Tuesday, March 15, 2011

Empire State Manufacturing Survey indicates faster growth in March

by Calculated Risk on 3/15/2011 08:30:00 AM

from the NY Fed: Empire State Manufacturing Survey

The Empire State Manufacturing Survey indicates that conditions for New York manufacturers continued to improve in March. The general business conditions index inched up 2 points, to 17.5. The new orders and shipments indexes fell but remained above zero, while the unfilled orders index rose above zero for the first time in a year. Price indexes continued to climb, suggesting that price increases had accelerated.
In addition, employment indexes also gained in March, suggesting an expansion in employment levels and in hours worked. The index for number of
employees rose 5 points to 9.1, and the average workweek index rose 10 points to 15.6.
This was slightly above expectations for an increase to 16.0.

Note: On Japan, from the WSJ: Japan Makes Progress at Troubled Nuclear Plant
Japanese officials appeared to have regained some control of northeast Japan's troubled nuclear power plant Tuesday afternoon ...

While radiation levels at the plant remain elevated, they have dropped significantly from earlier in the day, ruling out the continuation of unstoppable large-scale leaks.

Radiation levels in downtown Tokyo—which had also risen earlier Tuesday, though they remained well below levels that could damage human health—also fell sharply later in the day.