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Empire State Manufacturing Index at the lowest level in almost two years

Monday, Dec 15 2014

The December 2014 Empire State Manufacturing Survey indicates that business activity declined for New York manufacturers. The headline general business conditions index dropped fourteen points to -3.6, its first negative reading in nearly two years. Analysts were anticipating incline to 12.1 points. The new orders index also fell into negative territory, tumbling eleven points to -2.0, and the shipments index fell to -0.2.

 

Labor market conditions were mixed, with the index for number of employees holding steady at 8.3, while the average workweek index declined to -11.5. The prices paid index was little changed at 10.4, indicating a continued modest increase in input prices, while the prices received index climbed to 6.3. Indexes for the six month outlook continued to convey optimism, but to a somewhat lesser extent than in recent months.

 

After data was released, USD edged down few points. Euro is currently being traded slightly below 1.2440 level, Sterling is near 1.5660 area, while Aussie is around 0.8220 level. Later today, in Industrial Production figures will be released.

More in this category: « CBI Industrial Orders Expectations showed balance of +5 US Industrial production increased 1.3% »

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