FYI: Tuesday’s release of the Empire Manufacturing report for the month of May came in better than expected with the headline index rising back up to 20.1 from last month’s level of 15.8. Economists, meanwhile, were looking for a modest decline. You may recall that in last month’s report, we saw expectations for conditions six-months from now come crashing down, but this month they saw a bit of a rebound. Even after the bounce, though, the expectations components of the headline index and each sub-sector are still well off their levels from two months ago.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/empire-manufacturing-report-better-than-expected/
