Empire Fed Rises Above Highest Estimte On Jump In New Order As Employment Conditions Deteriorate
by Tyler Durden
ZeroHedge.com
Jun 15, 2016
In a rare glimpse of sunlight for the recessionary US manufacturing sector, moments ago the Empire Fed Manufacturing Survey reported that contrary to expectations of another contractionary print (consensus was looking for -4.9%), General Conditions in June 2016 expanded modestly for New York manufacturers with the headline general business conditions index climbing a whopping fifteen points to 6.0, above the highest estimate of 2.0. Unfortunately for workers, the headline did not translate into better work conditions as the number of employees index declined to 0.0, the worst print since March.
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