The January 2016 Empire State Manufacturing Survey indicates that business activity declined for New York manufacturers at the fastest pace since the Great Recession. The headline general business conditions index fell thirteen points to -19.4. Analysts were forecasting increase to -4.1 points. The new orders and shipments indexes plummeted, indicating a steep decline in both orders and shipments.
Price indexes suggested that both input prices and selling prices increased. Labor market conditions continued to deteriorate, with employment indexes remaining in negative territory. The six-month outlook was noticeably weaker, with the index for future general business conditions falling to its lowest level since early 2009.
Euro is currently being traded around 1.0940 level, Sterling is few points above 1.4330 area, while Aussie is at 0.6870 level. Later today, Industrial Production and Consumer Sentiment figures are scheduled for a release.
