Monday, June 15, 2015

NY Fed: Empire State Manufacturing Survey indicates "conditions worsened slightly" in June

by Bill McBride on 6/15/2015 08:33:00 AM

From the NY Fed: Empire State Manufacturing Survey

The June 2015 Empire State Manufacturing Survey indicates that business conditions worsened slightly for New York manufacturers. The headline general business conditions index fell five points to -2.0, its second negative reading in the past three months. The new orders index fell six points to -2.1, and the shipments index edged down to 12.0. Labor market indicators pointed to a small increase in employment levels and the average workweek....
The index for future general business conditions fell for a second consecutive month. The four-point drop, to 25.8, signaled that optimism about the six-month outlook ebbed further in June.
emphasis added
This is the first of the regional surveys for June.  The general business conditions index was below the consensus forecast of a reading of 5.9, and indicates slight contraction in June.