Bankinter | Empire Manufacturing (December) below expectations: -3.9 compared to +10.0 expected and +18.7 previously. The indicator, which surveys 200 executives in the manufacturing sector in New York State, is below expectations and enters contraction territory (<0), affected by the fall in New Orders. With regard to prices, the components of prices paid and prices charged declined, pointing to an improvement in inflationary pressures. Also on the positive side, the 6-month outlook component improved to 35.7, reaching a 12-month high. Therefore, despite the weakness of the data, lower price pressures and improved 6-month expectations make the indicator’s reading relatively positive.
Empire State Manufacturing Index enters contraction territory in December, falling to -3.9 points against 18.7 in November
