Manufacturing in New York Region Unexpectedly Contracts as Orders Decrease

[marmar]

Nov. 15 (Bloomberg) -- Manufacturing in the New York region unexpectedly contracted in November for the first time in more than a year, a warning sign the industry that led the economy out of the recession may again be cooling.

The Federal Reserve Bank of New York’s general economic index fell to minus 11.1 from 15.7 in October. Readings less than zero signal contractions in the so-called Empire State Index, which covers New York, northern New Jersey and southern Connecticut. Economists forecast the measure would fall to 14 this month, according to the median projection in a Bloomberg News survey.

Continued growth in export demand and in business investment may not be enough to overcome the end of stockpile rebuilding and may lead to slower factory expansion in coming months. Measures of new orders, shipments and employment weakened in today’s report.

“Things have eased back on the manufacturing side,” said Ken Mayland, president of ClearView Economics LLC in Pepper Pike, Ohio. The boost from inventory-building that supported factories most of this year is “now dying off. Now almost everything going forward is going to be purely demand-based.” ............(more)

The complete piece is at: http://noir.bloomberg.com/apps/news?pid=20601068&sid=ai5xeMKoie5E

[AngryAmish]

1. unexpectantly?

This shit has been going on and the one thing it is not is unexpected.

[Systematic Chaos]

2. Only good news is expected, comrade.

Now shut up and enjoy your newly increased, 40 gram chocolate ration.

:sarcasm:

[Bonhomme Richard]

3. Quick. Offer them a tax decrease. That will get them......

manufacturing again.

[Subdivisions]

4. When was the last time anyone remembers an economic report of any kind...

...that wasn't "unexpected".

It's really beginning to go beyond laughable to just plain sad.