Reply To: Traders Market Weekly: Robots, Dribbler Enthusiasm and Short Squeezes

#42082
Truman
Participant

The New York Fed’s Empire Manufacturing Survey for August, meanwhile, registered one of its lowest readings on record, plunging to -31.3 (consensus 5.0) from 11.1 in July with the new orders and shipments indexes collapsing to -29.6 and -24.1, respectively.

The dividing line between expansion and contraction is 0.0, so it is clear that manufacturing activity in the New York Fed region suffered a sharp slowdown in August. On the bright side, inflation pressures eased some with the prices paid index dropping to 55.5 from 64.3. On the dim side, respondents weren’t very enthusiastic about the business outlook. The index for futures business conditions checked in at 2.1 versus -6.2 in July.