Empire State Mfg Survey

11-15-2013 4-13-34 PMThe opening price on the E-mini S&P today was (1791.25). At 11:50 a.m. US/Eastern time, the market double bottomed at (1788). At 4:05 p.m. US/Eastern time the high price of the day (1796) was hit. Each month, the New York Fed conducts a monthly survey of manufacturers in New York State. Representatives from a variety of industries participate. About 175 manufacturing executives respond to the questionnaire, which is sent out on the first of each month. The questionnaire covers an assortment of indicators from the previous month. Respondents are also asked for their views about the likely direction of these same indicators six months ahead. In the month of November, the conditions have turned slightly negative in the New York manufacturing region. The General Business Conditions Index dropped to minus 2.21 from 1.52 in October. New orders are at minus 5.53, unfilled orders are at minus 17.11, shipments are at minus 0.53, and employees are at zero this month. These lacking numbers are pointing to further declines. This is the first time since May that the Empire State index is in the minus column, which indicates a flattening in growth, not a reversal.

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