Monday, July 15, 2019

NY Fed: Manufacturing "Business activity rebounded modestly in New York State"

by Calculated Risk on 7/15/2019 08:35:00 AM

From the NY Fed: Empire State Manufacturing Survey

Manufacturing firms in New York State reported that business activity grew modestly in July. After declining substantially last month, the general business conditions index returned to positive territory, rising thirteen points to 4.3.

After falling below zero last month, the index for number of employees slid further, dropping six points to -9.6, pointing to a decline in employment levels. The average workweek index, at 3.8, signaled somewhat longer workweeks.
emphasis added
This was slightly above the consensus forecast.