Way To Go Obama: NY Fed manufacturing index drops to lowest level since April 2009

Discussion in 'Politics' started by Vel, Sep 17, 2012.

  1. Vel
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    Vel Gold Member

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    Don't you know Obama is grateful for the foreign policy debacles right now. It takes eyes off his economic failure.
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    NY Fed manufacturing index drops to lowest level since April 2009
    POSTED AT 10:01 AM ON SEPTEMBER 17, 2012 BY ED MORRISSEY

    The economy made an intrusion into the news this morning, breaking the focus of late on foreign affairs, with some bad news on the manufacturing front. The New York Federal Reserve manufacturing index dropped to its lowest level since the recession ended, surprising economists and signaling a further slowdown in both factory orders and employment:

    Factory activity in New York state contracted for a second month in a row in September, falling to its lowest level in nearly 3-1/2 years as new orders shrank further, a report from the New York Federal Reserve showed on Monday.

    The New York Fed’s “Empire State” general business conditions index dropped to minus 10.41, from minus 5.85 in August, frustrating economists’ forecasts for an improvement to minus 2, according to a Reuters poll. It was the lowest level since April 2009.

    The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions. The sector contracted in August for the first time in 10 months.

    With orders plummeting, the impact on the labor force is predictable:

    NY Fed manufacturing index drops to lowest level since April 2009 « Hot Air
     
  2. Katzndogz
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    Katzndogz Diamond Member

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    Democrats will call this a resounding success and go from there. Watch, someone is going to come along and say manufacturing is up.
     
  3. TakeAStepBack
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    TakeAStepBack Gold Member

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    We'll just print our way to prosperity.
     

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