Empire State manufacturing index posts first negative reading in two years
The numbers: The New York Fed’s Empire State business conditions index took a sharp turn for the worse in June, falling into negative territory for the first time in more than two years.
Any reading below zero indicates a contraction in activity. The last time the index was negative was in October 2016. Big picture: Manufacturing has been a weak link in the economy this year, buffeted by uncertainty caused by tough U.S. trade policy against China and Mexico and a slowing of activity overseas. Auto sales are set to be lower this year. The large pullback might bolster the case for a near-term interest-rate cut when Federal Reserve officials meet on Tuesday and Wednesday.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Poshmark Expands Its $625 Million Retail Empire From Fashion Resale Into Home DecorJust ahead of a rumored IPO, Poshmark, one of Forbes' Next Billion-Dollar Startups, is undertaking its biggest market expansion yet by bizcarson
Read more »
Murder of college golfer: Man pleads guilty to killing Iowa State star
Read more »
Woman arrested in connection to killing of former Arkansas state Sen. Linda Collins-SmithAuthorities in Arkansas arrested a woman on Friday in connection to the murder of former state Sen. Linda Collins-Smith, who was found dead at her home last week. Rebecca Lynn O’Donnell, 48, of Pocahontas, was arrested Friday, Arkansas State Police said in a statement. At the time, Collins-Smith’s
Read more »
After former Arkansas state senator found dead outside her home, a woman is arrested'We are sickened and upset that someone so close to Linda, would be involved in such a terrible, heartless crime,' the family of Linda Collins-Smith said.
Read more »
Algeria ex-PM Ouyahia appears in court in second alleged corruption case: state TVAlgerian former prime minister Ahmed Ouyahia appeared in a court in Algiers on S...
Read more »
Washington state waterfront landowners are getting an unusual request: Take in dead whalesWaterfront landowners in Washington state are getting an unusual request to allow their land to be used for the decomposition of dead gray whales
Read more »