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The Empire Strikes Out! Empire Fed Manufacturing Survey Suffers Biggest 2-Month Collapse (Ex-COVID) In History
Confounded Interest ^ | 01/16/2024 | Anthony B. Sanders

Posted on 01/16/2024 6:37:47 AM PST by Kaiser8408a

The themesong for Bidenomics is the Imperial March from Star Wars.

The New York Fed’s Empire State Manufacturing Survey for January crashed from -14.5 to -43.7 – the worst print in the survey’s history outside of the COVID lockdowns…

Source: Bloomberg

The -43.7 print was a stunning 10 standard deviations below expectations of a bounce to -5.0…

Source: Bloomberg

Under the hood, it was a bloodbath. New orders slumped more than 38 points to minus 49.4, the weakest since April 2020, while shipments dropped by the most since August. Worse still, the index of prices paid for materials increased to a three-month high.

But hope remains high as the six-month outlook for overall activity improved to a three-month high, suggesting manufacturing will stabilize at a weak level. The measure of the outlook for capital expenditures increased to the highest since April 2023, suggesting a pickup in investment.

However, the spread between current reality and a hopeful future is at near record highs (record Ex-COVID-lockdowns)…

“Bidenomics” for the win…

(Excerpt) Read more at confoundedinterest.net ...


TOPICS: Business/Economy; Food; Government; Politics
KEYWORDS:
Biden is the Darth Vader for the US.
1 posted on 01/16/2024 6:37:47 AM PST by Kaiser8408a
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To: Kaiser8408a

“Biden is the Darth Vader for the US.”

################

For NY, it’s not just Biden, but the whole Democrat Mafia there, run by NYC.

The NYC Mafia there wants to turn Upstate into farmland, prisons, and community colleges, and nothing else.

If you live in NY, my humble advice would be to get out.


2 posted on 01/16/2024 7:15:48 AM PST by Eccl 10:2 (Prov 3:5 --- "Trust in the Lord with all your heart, and lean not on your own understanding")
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To: Kaiser8408a

The recession comets


3 posted on 01/16/2024 10:24:07 AM PST by revivaljoe ( )
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