US January Empire Fed -12.6 vs +3.0 expected

• Prior was +0.2

Business activity declined in New York State in January, according to firms responding to the Empire State Manufacturing Survey.
The headline general business conditions index fell fifteen points to
-12.6.

New orders fell modestly, and shipments were little changed.
Delivery times were slightly longer, and supply availability was
unchanged. Inventories grew slightly.

Labor market indicators pointed to
steady employment levels but a shorter average workweek. Both input and
selling price increases picked up. Firms grew more optimistic that
conditions would improve in the months ahead.

This article was written by Giuseppe Dellamotta at www.forexlive.com.