Minus Signs Sweep Empire State Manufacturing Region, Index Contracts Third Month

(Before It's News)

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / October 15, 2015

Empire State Manufacturing Index Contracts Third Month

A pair of Fed regional manufacturing reports came out this morning. Both show contraction. The Empire State Index came in at -11.36, worse than any economist’s estimate. The Econoday Consensus Estimate was -7 and the range was -5 to -10.

Minus signs sweep the Empire State report with the headline at minus 11.36 which is more than 1 point below Econoday’s low end estimate. Looking at individual readings, new orders are in very deep trouble at minus 18.92 for a fifth straight month of contraction. And manufacturers in the region are not going to be able to turn to unfilled orders to keep busy with this reading extending a long string of contraction at minus 15.09 in September.

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