Empire Manufacturing Drops

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  • Post category:Economy

From the New York Fed:  “The September 2015 Empire State Manufacturing Survey indicates that business activity declined for a second consecutive month for New York manufacturers.”

Full PDF report here

empire manufacturing survey

Some notables from the report…

general business and new orders

empire manufacturing survey

A Zero Hedge post headline equates this to a coming recession.  In normal economies that is the case and in the US economy perhaps it is too (ref. NFTRH 360 excerpt “No Recession, But…”).  But a couple points of consideration…

  1. This is a highly financialized economy and…
  2. As we note each month post-Payrolls, the strong dollar-fueled consumer economy is doing all the economic lifting right now.  i.e. manufacturing weakness, which we were the first that I know of to note, has not yet bled over to the bloated services sectors.

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