US markets are focused on tomorrow's Fed meeting results, but in the meantime, there are more manufacturing data to look at
US markets are focused on tomorrow's Fed meeting results, but in the meantime, there are more manufacturing data to look at. Remember, yesterday's industrial production was mixed to negative (depending on your perspective). However, the New York Fed's Empire Manufacturing Survey handily beat expectations last month. The index came in at 27.5, a huge jump from the 16.7 figure in the previous month and substantially above the consensus estimate of 16. It's also the highest monthly result since October 2009. New orders, shipments, and inventories all showed improvement from the prior period. In addition, expectations about future business remain optimistic, although unchanged from July. (VIEW LINK)
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