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Empire State Manufacturing Misses: New Orders Slide To 16 Month Lows, Capex Plunges

Tyler Durden's picture




 

At 6.90, Empire State Manufacturing missed expectations of 8.00 (and dropped from the previous 6.9 print) for the 2nd weakest print in 11 months. While New Orders tumbled back into the red (and 16-month lows), average workweek and number of employees rose markedly (making this survey once again seem a total farce). "Hope" for the future improved (though remains lower than most of the last year's prints) but new order expectations, tech spend, and capex all plunged.

 

 

New Orders tumbled to 16 month lows...

 

But jobs are up?

The prices paid index edged down two points to 12.4, signaling a moderate increase in input prices for a sixth consecutive month. The prices received index climbed five points to 8.3, indicating a modest increase in selling prices. The index for number of employees climbed eight points to 18.6, pointing to significant gains in employment, and the average workweek rose six points to 5.2, indicating a small increase in the average workweek.

But expectations for almost everythingb are dismal...

As in February, indexes for the six-month outlook conveyed less optimism than in many of the preceding months. After plunging last month, the index for future general business conditions rose five points to 30.7, remaining well below readings that were generally above 40 from May 2014 through January 2015. The future new orders and shipments indexes declined. The future prices paid and future prices received indexes edged higher, but remained subdued. A significant expansion in employment levels was anticipated, with the index for expected number of employees rising to 28.9. After reaching a multiyear high last month, the capital expenditures index fell back to 18.6, and the technology spending index dropped to 7.2

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Mon, 03/16/2015 - 08:47 | 5893723 Silverhog
Silverhog's picture

Recovery Express is sure rolling on. Wait till we we hit that missing bridge. 

Mon, 03/16/2015 - 08:52 | 5893733 resaci
resaci's picture

Bully!

Mon, 03/16/2015 - 09:43 | 5893874 Mr Poopra
Mr Poopra's picture

16 month lows?  But that's impossible, i just refinanced and borrowed money from my family to buy TSLA and NFLX!

Mon, 03/16/2015 - 08:57 | 5893745 wmbz
wmbz's picture

How in the hell is this negative propaganda being released? Obozo himself has stated that eveything be good, he has guided this country back into prosperity!

Once the free shit army has expaneded to 300 million his job will be complete!      USSA!

 

FUBAR!

Mon, 03/16/2015 - 09:11 | 5893782 jay28elle
jay28elle's picture

Option #3 for the progressives is Cloward & Piven's strong recommendations on how to ultimately get to the 'perfect society' (Marxism/socialism), and that is via total and complete collape of the economy and society.

Options #1 & #2 were to try to integrate socialism into society in a manner the USA was used to, and generally without much destruction.  However, the first 4-5 years of this administration did not attain that, so the other objectives we are seeing come to light are part of Option #3.  These include geo-political unrest, domestic social and racial discord, collapsing of private business/enterprise, wealth transfer to the elites, etc.

 

Mon, 03/16/2015 - 08:59 | 5893747 fed_depression
fed_depression's picture

We are in deep shit

 

<Everything is so bizzare, I have no idea how to value anything anymore>

I'm sure I'm not alone and this will be the end of it.

Mon, 03/16/2015 - 09:02 | 5893763 jay28elle
jay28elle's picture

Wow, man, that's not a real nice comment to make.  Just BTFD, believe your (cough, cough) leaders in DC have the collective's best interests at heart...

Mon, 03/16/2015 - 09:07 | 5893770 fed_depression
fed_depression's picture

Well here's some things that don't make sense just to fuck with the little guys and some of the bigs

EUR/USD goes to $2

GBP/US goes to 50 cents

Aussie goes to $5 vs USD.

 

Because in bizzare anything can happen.

Mon, 03/16/2015 - 08:59 | 5893754 Fun Facts
Fun Facts's picture

If you really could create wealth from nothing, everyone on the planet could retire and live a fabulous lifestyle.

Mon, 03/16/2015 - 09:05 | 5893768 jay28elle
jay28elle's picture

Question about something that's been bugging me for a while...

When everyone is riding in driverless cars, ones of course that take all the human element out of driving, and wrecks no longer occur, will there still be Auto Insurance Polices and Companys?

 

Mon, 03/16/2015 - 09:12 | 5893784 GMadScientist
GMadScientist's picture

Will there still be governments staffed by people beholden to the insurance industry? There's your answer.

Mon, 03/16/2015 - 09:15 | 5893793 GMadScientist
GMadScientist's picture

https://www.youtube.com/watch?v=nNCCa0py-kI

Been the crawl of a mountain
Been a link in a chain
Been scolded for stealin'
Been told to behave

Been readin' the forecast
Somethin's coming this way
But it's takin' forever
I'm too tired to maintain that
I'm slow

Been a scratch on the surface
Been a clog in the drain
Been melodramatic
Been sleepin' for days

Been one in a million
Been a million to one
This is takin' forever
Always seems to return that
I'm slow

All hands up, salute the Empire State
Faith be true, you know the way
Ten feet tall in this: an empty space
Fallen walls all around
Destroyed again
Destroyed again

 

 

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