Posted on 05/15/2013 6:22:01 AM PDT by blam
EMPIRE FED MANUFACTURING UNEXPECTEDLY SINKS INTO CONTRACTION
Matthew Boesler
| May 15, 2013, 8:30 AM
The New York Fed's Empire State Manufacturing Survey for the month of May is out.
The headline index fell to -1.43 from 3.05 in April, defying economists' prediction for a rise to 4.00.
The new orders sub-component fell to -1.17 in May from 2.20 in April.
The shipments sub-component fell to -0.02 from 0.75.
Below is a summary of the data from the release:
The May 2013 Empire State Manufacturing Survey indicates that conditions for New York manufacturers declined marginally. The general business conditions index fell four points to -1.4, its first negative reading since January. The new orders index also edged into negative territory, and the shipments index fell to zero.
The prices paid index declined eight points to 20.5, indicating a slowdown in selling price increases, while the prices received index was little changed at 4.6. Employment indexes were mixed, showing both a modest increase in the number of employees and a slight decline in the length of the average workweek.
Indexes for the six-month outlook were generally lower, suggesting that optimism about future conditions had weakened.
(Excerpt) Read more at businessinsider.com ...
There’s that word again, “unexpectedly”.
When will these dolts ever learn? If you crush free enterprise and expand government, the economy will stagnate.
That’s why 3 years into a “recovery”, we have no real recovery to speak of.
CC
The NewNY is the slogan of the NY department of Economic development..
But...but... THIS CAN’T BE!
I saw the commercials for the “New New York”
Governor Mussolini says we have lower taxes and growth and unicorns and rainbows in NY.
It must be true I saw it on TV - right before “Honey Boo Boo”.
Don’t worry, the DOW will gain another 100 pts today.
Welcome to the new Buffalo! I thought New York was “open for business” and taxes have been lowered bwahahahahahahaha
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