Monday, December 17, 2018

From the NY Fed: Manufacturing "Business activity grew at a slower pace than in recent months in New York State"

by Bill McBride on 12/17/2018 08:35:00 AM

From the NY Fed: Empire State Manufacturing Survey

Business activity grew at a slower pace than in recent months in New York State, according to firms responding to the December 2018 Empire State Manufacturing Survey. The headline general business conditions index fell twelve points to 10.9.

The index for number of employees jumped twelve points to 26.1, indicating very strong growth in employment levels, while the average workweek index was little changed at 8.0.
emphasis added
This was well below the consensus forecast, and the weakest reading since May 2017.