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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Chispas who wrote (35374)	8/15/2005 10:47:08 AM
From: mishedlo	Read Replies (1) of 116555

Empire State factory index slips to 23.0 in August - Monday, August 15, 2005 1:46:27 PM afxpress.com WASHINGTON (AFX) -- Manufacturing activity in the New York area stayed strong during August, the New York Federal Reserve Bank said Monday. The bank's Empire State Manufacturing index fell to 23.0 in August from 23.9 in July. The drop was not as bad as had been feared. Economists had forecast the Empire State index would fall to 18.9 in August. Readings over zero indicate expansion. "The sector continues to make a solid recovery after a soft spring and should help to propel the economy to a better performance in the second half than was seen in the first six months of the year," said Steve Stanley, economist at RBS Greenwich Capital Benchmark Treasury notes declined as the strength in the report did not sit well with inflation-wary investors New orders jumped to 33.8 in August from 19.2 in July. This is the highest level of new orders this year. The indexes for shipments and unfilled orders were also higher than in July The factory job market improved, with the employee index rising to 10.2 in August from 1.4 in July. The average workweek index rose sharply, hitting 20.5, its highest level in more than a year Inflation indexes also strengthened in August. The prices paid index rose to 29.0 in August from 21.6 in July The index of activity in the next six months showed optimism. The future general business condition index rose to 53.3 in August from 47.0 in July But inflation expectations in the next six months also rose sharply, with the Empire State index climbing to 47.0 in August from 28.4 in the previous month

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