Joined Nov 11, 2007
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Empire Manufacturing Strikes Out Again, Outlook Dims

“Since July of last year, the Empire Fed manufacturing index has only beaten expectations once as March data once again fell below consensus (5.61 vs 6.5 est.) – hardly confirming the weakness is weather-driven. The underlying sub-indices were ugly with the most worrisome being the outlook – despite some optimism for capex, the general business conditions 6-months ahead fell by the most since Oct 2011 to its lowest since July 2013 – which once again suggest this weakness is anything but weather-driven…”

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