The numbers: 7073彩票注册The New York Federal Reserve’s Empire State business conditions index rose 1.5 points to 4.8 in January, the regional Fed bank said Wednesday. Economists had expected a reading of 3.6,
7073彩票注册Any reading above zero indicates improving conditions.
What happened: 7073彩票注册The new-orders index rose 4.9 points to 6.6 in January while shipments fell 0.9 points to 8.6. Unfilled orders continued to decline.
Optimism about the six-month outlook remained restrained. The index for future business conditions edged down 3 points to 23.6.
Big picture: The headline index has been in a narrow range since the middle of 2019. Overall, the factory sector continued to struggle, hurt by international trade worries, a pull back in spending, and Boeing Co’s
What are they saying? Josh Shapiro, chief U.S. economist at MFR Inc, called the report “lackluster.”
Market reaction: 7073彩票注册 opened higher, as worries over trade tension with China eased. The S&P 500 Index