The New York Fed Empire State index worsens to -8.82 in September from -7.72, with shipments and employment plunging. This marks the 4th month in a row that factory activity contracted in New York state.
Economists had expected an improvement to -4.0. Will the Philly Fed index, due in 90 minutes, also disappoint? If so, the two reports show factory weakness has extended into the end of 3Q.
NY Factory Activity contracts for 4th Straight Month
Posted by
BorsaStreet.com
on Thursday, September 15, 2011
Elliottwave
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