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US Empire State Manufacturing Index Stunning Drop to -43.7, New Orders -49.4
Nearly half of the New York region manufacturers reported a decline in new orders. Did a recession just start (or about to) as everyone gave up on the idea? chart I don’t often comment on the Fed regional reports. The ISM and PMI national reports are sufficient. But this report, on the heels of a terrible report in December as well, merits a look. Please consider the New York Fed Empire State Manufacturing Report for January 2024. Business activity dropped sharply in New York State, according to firms responding to the January 2024 Empire State Manufacturing Survey. The headline general business conditions index ... (full story)