Posted on 03/15/2024 8:42:49 AM PDT by Eccl 10:2
The numbers: The New York Fed’s Empire State business-conditions index, a gauge of manufacturing activity in the state, fell 18.5 points in March to negative 20.9, the regional bank said Friday.
The drop was much larger than expected. Economists had expected a negative 6 reading, according to a survey by the Wall Street Journal.
Any reading below zero indicates deteriorating conditions.
This is the third straight reading negative reading for the Empire State index and the fifth in the past six months.
Key details: The index for new orders fell 10.9 points to negative 17.2 in March. This is a sign of softening demand.
The shipments index fell 9.7 points to negative 6.9.
(Excerpt) Read more at marketwatch.com ...
Irrelevant. New York will continue to vote Dem. Resistance is futile.
“Irrelevant. New York will continue to vote Dem. Resistance is futile.”
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True enough, but we can factually point out the inferiority of Leftist politics, so that those in the middle will see the virtue of being Right.
Loser state losing...no surprise just good news
Why do you continue to assume, despite all the evidence to the contrary, that NYS voted for this?
Businesses take a bit of time to react to political events. I believe that most business that can leave New York, will leave New York due to the predatory nature of the city and state governments. It will take 3 to 4 months for it to pick up speed.
For Deep State.
Not for your fellow citizens.
NYS has lost almost half its House seats over the last 60 years.
The decline started a very long time ago.
Deep State just decided to flush faster.
“Why do you continue to assume, despite all the evidence to the contrary, that NYS voted for this?”
Ummm, maybe because Hochul beat Zeldin?
The business regulatory climate in NYC has turned predatory, capricious and politicized against industry. A lot of manufacturing is going to flee NYC and even the majority of New England, it just takes time for businesses to move.
even corning is laying off...
I wonder if businesses are leaving NY after watching NYC go after Trump, and if that has something to do with it.
Most of us in upstate NY did not vote for this bunch. We are constantly over-voted by NYC.
“Most of us in upstate NY did not vote for this bunch. We are constantly over-voted by NYC.”
I understand, and I sympathize. But the reality is, you are outnumbered, and for that reason, you’re hosed. It’s only a matter of time before I experience that fate here in Ohio.
We are leaving,it is expensive to move my business out of state.
Family already started, first son and his family leave today.
None of this is easy or cheap.
If nothing else, no one in their right mind is opening or expanding a business in NYS.
As one who has been in manufacturing my entire career... I have never seen it this bad. The other downturns I have experienced had lower prices for materials and machinery. But this time. Materials have doubled or tripled and machinery is hard to come by.
I’ve been in the manufacturing sector since the early 1990’s.
It’s the worst I’ve seen it, for the reasons you mentioned.
If you don’t mind telling us, what state is your firm in, and in what industry?
Thanks.
Same question for you:
if you don’t mind telling us, what state is your firm in, and in what industry?
Thanks.
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