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New York,
NY -According to new data from
the Empire State Manufacturing Survey index from the
Federal Reserve
Bank of New York
the state’s
manufacturing sector unpredictably shrank in November for the first time since July
2009.
The business index dropped a whopping 27 points, marking the first time the business index dropped below zero since the economic recovery began.
The new orders index fell to minus 24.4 points, from positive 12.9 points in October.
The shipments and prices received indexes fell below zero, while the prices paid slumped.
View the full survey here.
The business index dropped a whopping 27 points, marking the first time the business index dropped below zero since the economic recovery began.
The new orders index fell to minus 24.4 points, from positive 12.9 points in October.
The shipments and prices received indexes fell below zero, while the prices paid slumped.
View the full survey here.
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