Empire Manufacturing Survey Slumps To 22-Month Lows

Original post

After bouncing in February, Empire Manufacturing survey in March dropped back to its weakest since May 2017. Against expectations of a further bounce to 10.0, the data printed at 3.7.

New Orders slowed dramatically (weakest since May 2017)and the Average Workweek contracted for the first time since Nov 2016.

Alternatively, the index for number of employees climbed ten points to 13.8, pointing to an increase in employment levels, even if those workers are apparently working far less.

Meanwhile, in fresh trouble for profit margins,

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