Tuesday, December 15, 2009

New York State Manufacturing Index Plunges

This one is pretty ugly.

The Empire State Manufacturing Survey, conducted by the New York Federal Reserve, indicates that conditions for New York manufacturers leveled off in December, following four months of improvement.

The general business conditions index fell 21 points, from 23.6 to 2.6.

The indexes for new orders and shipments also moved close to zero.

Current employment indexes slipped back into negative territory. Future indexes remained well above zero but signaled somewhat less widespread optimism than in recent months. Indexes for expected prices paid and received declined moderately but remained well above zero.

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