The Empire State Manufacturing Survey Plunged…Should We Worry?

The Empire State Manufacturing Survey Plunged…Should We Worry? by Eric Bush, CFA, Gavekal Capital

The New York Fed reported today that the Empire State Manufacturing Index fell to the lowest level since April 2009. This surprised economic forecasters as the consensus was actually looking for a slight improvement. While one data point out of a regional Fed survey shouldn’t get anyone too excited as these are notoriously volatile series, we thought it would be worth taking a quick tour...

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