- Post 18 September 2012
- By Copy Editor
(Breitbart) -- [Yesterday] morning, the New York Federal Reserve Bank released its monthly "Empire Index" of business and manufacturing activity for New York and New Jersey.
Last month, the index should a -5 rating, signaling a weakening economy. (Anything below 0 signals contraction in the economy.) Analysts had expected the index to improve to a -2 rating. Instead, the index collapsed to more than -10, indicating a spark economic pullback in the region.
(Reuters) - Factory activity in New York state contracted for a second month in a row in September, falling to its lowest level in nearly 3-1/2 years as new orders shrank further, a report from the New York Federal Reserve showed on Monday. ...continues...