Empire Manufacturing Survey falls more than expected. | CountingPips Forex & Currency Trading Blog

June 16, 2008 - Forex Economic News

Empire Manufacturing Survey falls more than expected.

New York manufacturing activity continued to fall in June as sentiment among New York manufacturers declined by more than expected according to data released today by the New York Federal Reserve. The Empire State Manufacturing Survey, a monthly business survey of New York State manufacturers, showed that the general business index in New York declined by 5 points from May to June to register a -8.7 score. The -8.7 index score was below economic forecasts that were predicting a score of -2.0 for the month of June. May's survey registered a score of -3.2. The new orders index also fell this month to a -5.5 score and marked the 6th month in a row of a zero or negative score. The shipments index dropped by 11 points in June to -6.5 and the unfilled orders index declined to -10.5. The prices paid index declined a bit for the month to register a 66.3 score while the prices received index jumped by 11 points to a 26.7 score and the future prices received index reached a new record high of 47.7 in June. The employment indexes for the month showed little or no change in conditions. The Empire State Manufacturing Survey is a monthly business assessment of New York State manufacturers produced by the New York Federal Reserve.

Tags: empire state manufacturing, ny business sentiment, business survey

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