December 2012 Empire State Survey Shows Contraction Continuing
Written by Steven Hansen
The Empire State Manufacturing Survey (manufacturing in New York State) in December 2012 shows manufacturing contraction continues to be forecast for a fifth month after the previous eight months of expansion. Expansion is indicated by positive numbers in this index.
- This noisy index has moved from 20.2 (March), 6.6 (April), 17.1 (May), 2.3 (June), 7.4 (July), -5.9 (August), -10.4 (September), -6.2 (October), -5.2 (November) – and now -8.1 (December).
- Expectation was for a reading of 2.0 versus the -8.1 reported
- New orders and unfilled orders also were contracting
As this index is very noisy, it is hard to understand what these massive moves up or down mean – however many surveys in a row are now in negative territory.
2012-12-17 14:12:04
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