"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

The Required Disclosures

The information presented in this blog and its individual articles is provided for informational use only and should not be considered investment advice or an offer for a particular security. The contents reflect the views and opinions of the individual writer as of the date the article was written and do not necessarily represent the views of the individual writer on the current date. They also do not in any way, shape, or form represent the views of the Firm Never-To-Be-Named. Any such views are subject to change at any time based upon market or other conditions and The Great Redoubt and its individual writers disclaim any responsibility to update such views. These views should not be relied on as investment advice, and because investment decisions for any security are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any contributor to The Great Redoubt. Neither The Great Redoubt nor any individual author can be held responsible for any direct or incidental loss incurred by applying any of the information offered. Please consult your tax or financial advisor for additional information concerning your specific situation.

Tuesday, March 15, 2011

Empire State Manufacturing Survey

The is is the New York Fed's monthly survey of business conditions for manufacturers in New York State.  The Empire State Manufacturing Survey isn't seen as being as important as the Philadelphia Fed Survey, mostly because it is more tightly focused than the Philadelphia Fed Survey, but it is still an important indicator of manufacturing trends.
For February, the level of the General Business Conditions Index was 15.43, a 3.5 point increase from January.  The Econoday-surveyed analysts are expecting to see a further increase, with the level rising to 16.0.  And how did we actually do?  Well, the New York Fed is reporting that the general business conditions beat expectations, rising to a level of 17.5.  The New Orders index fell 5.99 points to 5.81, however, and the shipments index fell 9.69 points to 1.62.
Turning to the expectations index, which surveys what businesses think will be happening six months from now, the general business conditions index fell 0.05 points to a level of 49.35 (which is a hardly noticeable change).

No comments:

Post a Comment