October 2012 Empire State Manufacturing contracts for third month in a row

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10/15/12, "Oct. Empire State index contracts for third month," MarketWatch.com, Greg Robb

"The Empire State manufacturing index increased slightly but remained in negative territory for the third straight month, the New York Federal Reserve Bank said Monday. The index rose to negative 6.2 in October from negative 10.4 in September, which was its weakest reading in almost two years. Economists polled by MarketWatch expected the index to improve to negative 4.0. The key new orders sub-index rose to negative 9.0 in October from negative 14.0 in September.  

However, unfilled orders, another forward-looking component, fell to negative 18.3 in October from negative 14.9 in September. Employment conditions weakened, with the index for number of employees falling to negative 1.1 from 4.3 in the previous month. An index of expectations of activity six months ahead slipped to 19.4 in October from 27.2 in September. While positive, it is well below levels seen earlier in the year." via Zero Hedge



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