New York Manufacturing Unexpectedly Collapses
Factory activity in New York suffered an unexpected collapse in January, a New York Fed study revealed Tuesday. Business activity contracted sharply in January, according to the New York Fed's Empire State Manufacturing Survey. The business conditions index fell sharply, dropping 29.2 points in January to -43.7. Economists expected the economy to improve and expected […]
U.S. Manufacturing Contracts For 14th Straight Month
The manufacturing sector continued to contract in December, a closely watched economic indicator released Wednesday by the Institute for Supply Management showed. The ISM Purchasing Managers Index (PMI) rose to 47.4% in December, slightly higher than analysts' expectations of 47.2%. Last month's PMI was 46.7. Despite the better-than-expected improvement, this figure remains below the 50 […]