Fed Finds Northeast Manufacturing Activity Continues To Sour

Manufacturing activity in the New York region continued to contract according to the Federal Reserve Bank of New York Manufacturing Survey despite consensus expert estimates that activity would rise significantly.

Citing that prices paid by manufacturers continued to rise negatively impacting industry offsetting relatively small improvements in orders and other key areas, the Fed report noted that employers outlook over the next six month was muted instead of optimistic.

We will continue to track this key economic indicator on a going forward basis as many different economic statistics continue to point towards likely interest rate increases by the Federal Reserve in the hopes of dampening a 42 year high in consumer price inflation.

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