Empire State Manufacturing Index missed market forecasts

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Tuesday, Feb 16 2016

The February 2016 Empire State Manufacturing Survey indicates that business activity continued to decline for New York manufacturers. The headline general business conditions index edged up three points, but remained firmly in negative territory at -16.6. Analysts were anticipating increase to -10.3. The new orders and shipments indexes indicated an ongoing decline in both orders and shipments.

Price indexes suggested a slight increase in input prices and a small drop in selling prices. Employment levels steadied, while the average workweek index pointed to a decrease in hours worked. The six-month outlook remained weak, with the index for future general business conditions up only slightly from last month’s multi-year low.

Euro is currently being traded few points above 1.1130 level, Sterling is around 1.43 handle, while Aussie is around 0.7110 area.

More in this category: « ZEW Economic Sentiment decreased less than expected Aussie little changed in a quiet overnight trade »

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