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Empire State Manufacturing Index increased less than expected

Friday, May 15 2015
The May general business conditions index for New York area advanced four points but, at 3.1, indicated that business conditions were only slightly better over the month. Analysts were anticipating increase to 5.1. Thirty percent of respondents reported that conditions had improved, while 27 percent reported that conditions had worsened. 
 
The new orders index, positive for the first time since February, rose ten points to 3.9, indicating a small increase in orders. The shipments index was little changed at 14.9, suggesting that shipments continued to grow at a solid clip. The unfilled orders index, at -11.5, also remained close to last month’s level. The delivery time index fell to -10.4—a sign that delivery times shortened—and the inventories index rose to 7.3, pointing to an increase in inventory levels.
 
Data did not have any major impact on the markets. Euro is currently being traded around 1.1330 level, Aussie is slightly above 0.80 handle, while Sterling is at 1.5720 area. Later today, Industrial Production and Consumer Sentiment figures are scheduled for a release.
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