New York area manufacturing survey

Empire fed chart

Details:

  • New orders -1.5 vs -12.0 prior
  • Employment -9.6 vs -3.5 prior
  • Prices paid +25.5 vs +27.8 prior
  • Six-month business conditions +30.8 vs +25.7 prior

This is a decent rebound from the June reading, which was the worst since October 2016 and the largest one-month drop on record. The numbers are still depressed but the bounce is in the right direction. The one worrisome spot is employment, which is at the lowest since January 2016.