Philly Fed’s MBOS & NY Fed’s Empire Manufacturing Each Continue to Weaken

There have been times when I’ve missed my old manufacturing days, but decelerating as the sector is, this is not one of them.  In this atmosphere price increases are non-existent and in some cases price decreases can even be demanded by customers (cue the image of my customer, the materials manager of the Medical/Life Sciences Instrumentation division of Parker Hannifin, actually showing up in my office with a chart of the bombed out copper price).  Today he’s probably got a chart of copper and oil at the ready for suppliers to err, consider.  Anyway, I digress.  Here are the Philly and Empire data.

Philly:  Manufacturing Business Outlook Survey (October)

philly fed, mbos

NY Fed:  Empire State Manufacturing Survey

empire state manufacturing surveyHere are a few of the more troubling items from the Empire report..

new orders, empireinventories, empireprices received, empireunfilled orders, empire