"New York Fed's Empire State Index Hits Record Low at -43.7 in January"
TL;DR Summary
The US Empire manufacturing index for January plummeted to -43.7, marking the lowest level since May 2020, with significant declines in new orders, shipments, and employment. The 6-month forward index also reflects a challenging outlook for New York manufacturers. Market reaction has been mixed, with US yields lower but still higher on the day, and US stocks down but not as much as earlier levels.
- US Empire manufacturing index for January -43.7 versus -5.0 estimate ForexLive
- New York Fed's Empire State index plunges in January to lowest since pandemic MarketWatch
- Empire State Manufacturing Survey Forex Factory
- Gold prices remain under pressure as New York Fed's Empire State Survey drops to -43.7 Kitco NEWS
- Markets are skeptical of the worst Empire Fed survey since the pandemic ForexLive
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