September 17, 2012

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): EMPIRE FED PLUNGES TO -10.41 (-2.00 EXPECTED). “The Empire Fed manufacturing index fell to -10.41 versus expectations of a -2.00 reading and a prior reading last month of -5.85. New orders tumbled to -14.0 from -5.0 last month. . . .The employment index fell to 4.3. . . . Economists polled by Bloomberg forecast the key business activity index will rebound to -2.00 from its August reading of -5.85. A reading above zero indicates expansion.”

Unexpectedly!