NY Fed: The Recovery Sputtered In October

[AllentownJake]

The New York Fed's Empire State survey confirms what a lot of other on-the-ground economic reports (like rail) are suggesting, that the recovery, while still alive, is inconsistent, and certainly not going in a straight line.

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The Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved in November, but at a somewhat slower pace than in October. The general business conditions index fell 11 points, to 23.5. The indexes for new orders and shipments posted similar declines. Pricing pressures eased, with the prices paid index positive but lower than last month and the prices received index rising to a level just below zero. Employment indexes fell from October’s elevated levels, remaining slightly positive. Future indexes conveyed an expectation that activity and employment would improve in the months ahead and that both input and selling prices would increase significantly.

http://www.businessinsider.com/ny-fed-the-recovery-sputtered-in-october-2009-11