NY Fed Index Drops to Recession-level Low
- 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...
"Question all which is 'taught,' dig deeper, think clearly, respond profusely. Conformity is the antithesis of free thought and self-determination." -- Standard Pearls