Posted on 08/15/2022 8:56:50 AM PDT by ConservativeInPA
General conditions index drops 42 points to negative 31.3 — the second largest decline on record
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to negative 31.3 in August, the regional Fed bank said Monday.
This is the second largest monthly decline on record and among the lowest levels in the survey’s history, the regional Fed bank said.
Economists had expected a reading of 5.0, according to a survey by The Wall Street Journal.
Any reading below zero indicates deteriorating conditions.
(Excerpt) Read more at marketwatch.com ...
... because Gov. Hochul is so business-friendly?
Imagine that. Right after the demons passed an “inflation reduction” act. and i do mean, act. it’s all an act.
Is this part of Biden’s “build back better” plan?
Will the last CEO leaving NY please turn off the lights.
So, basically, it's just hugely expensive pork-barrel talking point legislation.
New York City is going to suffer badly once the new legislation kicks in....
This is because many (most?) white collar workers in the city will qualify for the increase in the social security tax. If the employer match increases as well that will be a double hit.
I would say it is most white color workers, at least in NYC, being that the wage there scale is so high.
Recession indicator…
Biden says everything is honky dory and he even went on another no questions vacation to prove it.
Everyone knows we have deteriorating conditions.
Is bill riley writing another book, “to kill America”?
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