- Empire Manufacturing for September fell to 14.7 versus estimates of 18.0 and a reading of 25.1 in August.
BOTTOM LINE: The pace of manufacturing in NY slowed in September as factories shipped fewer goods and new orders declined, Bloomberg reported. The Empire Outlook for the next six months fell slightly, but at 48.8 is still near August’s two-year high of 50.4. The new orders component fell to 13.6 from 22.2 the prior month. The prices paid component rose to 35.1 from 34.4 in August. The 10-year yield is rising 3 basis points on the report as it still shows relatively healthy manufacturing activity in the region. I continue to believe manufacturing will continue to help boost overall economic growth as companies gain confidence is the sustainability of the current expansion and restock depleted inventories.
No comments:
Post a Comment