by Last months spike up that was hailed as a turn around now looks like an aberration: NY Manufacturing Falls The Most on Record The New York Empire State Manufacturing Index plummeted 26.4 points from the previous month to -8.6 in June, missing market expectations of +10. That was the largest monthly decline on record, due to drop in both new orders and employment, while shipments increased at a slower pace. The Trump tax cuts gave a one time boost to earnings, and now the tariffs are working against earnings:
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WARREN MOSLER writes Consumer sentiment, real retail sales, industrial production, wages
WARREN MOSLER writes New manufacturers orders, vehicle sales, unemployment claims, rents, oil prices
WARREN MOSLER writes Saudi price hike, private payrolls, new hires, corporate profits
WARREN MOSLER writes Pending home sales, Durable goods orders, oil rigs and production
Last months spike up that was hailed as a turn around now looks like an aberration:
NY Manufacturing Falls The Most on Record
The New York Empire State Manufacturing Index plummeted 26.4 points from the previous month to -8.6 in June, missing market expectations of +10. That was the largest monthly decline on record, due to drop in both new orders and employment, while shipments increased at a slower pace.
The Trump tax cuts gave a one time boost to earnings, and now the tariffs are working against earnings:
