The report from the New York Federal Reserve showed on Wednesday that manufacturing activity in the New York region contracted dramatically in early April.
According to the survey, NY Fed Empire State manufacturing index tumbled from -21.5 in March to -78.2 in April, its lowest level in the history of the survey.
Economists had expected the index to come in at -35.0
Anything below zero signals contraction.
According to the report, new orders, shipments and employment fell at a record pace, while delivery times lengthened, and inventories declined modestly. On the price front, input price increases slowed considerably, while selling prices declined modestly.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.