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Empire State Manufacturing Survey continued to deteriorate
The Empire State Manufacturing Survey indicates that conditions for New York manufacturers continued to deteriorate in January. The general business conditions index rose several points but, at -22.2, remained near recent record lows. The new orders, shipments, and unfilled orders indexes also remained near their recent record lows. The indexes for prices paid and prices received were negative for a second consecutive month, and employment indexes remained deep in negative territory for a third consecutive month. Future indexes dropped sharply; the future general business conditions index, along with a number of other forward-looking indicators, fell below zero for the first time in the survey’s history.
Posted: January 15, 2009 Thursday 08:31 AM