Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Empire Fed Manufacturing Survey Soars In March, But…

Courtesy of ZeroHedge View original post here.

While most of the world sleeps in, the busy bees at US data central had some interesting 'soft' and 'hard' macro releases to publish for the 12 people paying attention.

We start with what is a truly stunning rebound in the Empire Fed Manufacturing survey which exploded from -11.8 to +24.6 in March (smashing the expectations of a rise to +1.0 and far above ene the highest of analyst forecasts)…

Source: Bloomberg

Aside from June 2020, this is the largest rebound ever in the manufacturing survey as Prices Paid soared to record highs and orders increased to the highest level of the year. Against all of that 'great news', factory employment growth in New York softened.

Perhaps the most ironic thing about the massive spike in the index is the fact that the index of expected business conditions six months from now slid more than 21 points to 15.2, one of the lowest readings since the pandemic began.

NY State manufacturers clearly expect slower growth in orders and shipments.

Overall, U.S. factory production rose in March by more than forecast, marking the third straight month of gains that show steady progress for manufacturers against a backdrop of gradually improving supply chains. The 0.9% increase followed a 1.2% gain in February. Manufacturing output increased at an annual rate of 5.4% in the first quarter, while total production grew an annualized 8.1%.

The pickup in March manufacturing output was broad and included a 7.8% surge in production of motor vehicles.

Excluding autos and parts, factory output increased 0.4%.

Capacity utilization at factories rose to 78.7%, the highest since 2007, from 78.1% a month earlier.

Plenty of room for Fed rate-hikes!


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!