Highlights of the Empire Fed for November
- Prior was +2.9
- New orders +2.6 vs +5.5 prior
- Prices paid +15.2 vs +20.5 prior
- Employment +10.4 vs +10.4 prior
- Shipments +11.9 vs +8.8 prior
- Six-month business conditions +29.8 vs +19.4 prior (5-month high)
The overall numbers are steady and the fall in new orders is a bit disappointing but the six-month conditions index is a better sign. But if your belief is that economic data has bottomed and is beginning to turn up, you're not going to find a lot of supporting evidence here.
