Empire Fed -11.9 vs +11.5 prior
Details:
New orders: -10.2 vs +9.4 priorShipments: -2.7 vs +17.9 priorUnfilled orders: -2.2 vs +2.1 priorDelivery times: -3.2 vs -1.1 priorInventories: -7.5 vs 0.0 priorPrices paid: 29.0 vs 23.2 priorPrices received: 10.8 vs 7.4 priorEmployment: 4.1 vs -5.7 priorAverage employee workweek: 4.7 vs 2.9 priorSupply availability: -7.5 vs -2.1 prior
Six-month ahead expectations:
General business conditions: 38.7 vs 30.6 priorNew orders: 38.4 vs 39.9 priorCapital expenditures: 9.7 vs -2.1 prior
Despite the overall contraction, there were some bright spots:
Labor market conditions improved slightly, with small increases in both employment and average workweek.Optimism about the six-month outlook grew strongly, with the future business conditions index climbing to 38.7, a multi-year high.
USD/JPY slipped lower after the data.
This article was written by Adam Button at www.forexlive.com.
