The Empire Strikes Out! NY Empire State Manufacturing Survey Falls Seven Points To -4.6 (Earnings Downgrades Overtake Upgrades)

confoundedinterest17 #bubble, #inflation, #wine, @MetreSteven @JeffSnider_AIP @DiMartinoBooth @bondstrategist @RaoulGMI @LukeGromen @dlacalle_IA @EconguyRosie @profplum99 @SantiagoAuFund @biancoresearch @pboockvar @SriKGlobal, Banking, CMBS, CRE, Credit, ECB, Economy, fannie mae, Fed, Freddie Mac, GDP, Gold, Housing, Inflation, Mortgage, New Home Sales, Oil, Powell, REITs, Silver, SPX, Stocks, Treasuries, Treasury, Wages, Yellen, Yield Curve October 16, 2023October 16, 2023 1 Minute

The Empire Strikes Out! Or “The March of Klaus Schwab and The World Economic Forum”

According to the New York Federal Reserve, business activity edged lower in New York State, according to firms responding to the October 2023 Empire State Manufacturing Survey. The headline general business conditions index fell seven points to -4.6. New orders fell slightly, while shipments were little changed. Unfilled orders declined, and delivery times shortened. Inventories held steady. Labor market indicators pointed to a slight increase in both employment and the average workweek. The pace of input price increases was similar to last month, while selling price increases moderated. Looking ahead, firms remained relatively optimistic about the six-month outlook.