FYI: Although a number of economic reports disappointed compared to expectations today (9/15), the Empire Manufacturing report bucked the trend and handily surpassed consensus expectations. While economists were expecting the September reading to come in at 18.0, the actual reading showed a much smaller decline relative to last month’s reading of 25.2 and came in at 24.4. Given it’s a regional report far removed from Texas and Florida, the damage of Hurricanes Harvey and Irma had little impact. While current business conditions saw little in the way of a change this month, expectations for the next six months took more, although still small, of a hit. Overall plans for Cap Ex and Technology Spending saw nice rebounds this month and are both are either at or near their highs of the year.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/empire-manufacturing-bucks-the-trend/
