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Empire Manufacturing Beats Expectations

FYI: This week's schedule of economic data started off on a positive note as the Empire Manufacturing report for the month of September showed a big uptick from August and exceeded expectations by a wide margin. While economists were forecasting a level of 16.0 in the headline index, the actual reading came in at 27.5 which was up from last month's reading of 16.69. It was also the highest monthly reading since October 2009. While the current conditions index of this month's report showed a solid increase, the expectations component for September (46.8) was practically unchanged from August's reading of (46.
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