Tuesday, September 15, 2009

Empire State Manufacturing Survey: It's Beginning To Look A Lot Like The 2002 Recovery

NEW YORK FED -- In September, the Empire State general business conditions index posted its third consecutive monthly increase and its second consecutive positive reading (see chart above). Rising 7 points to 18.9, the index was at its highest level since November 2007, with nearly 40% of respondents reporting that conditions had improved in September and 20% reporting that conditions had worsened. Future indexes were generally positive and near last month’s levels. The future general business conditions index rose 4 points, to 52.3, a level last reached in October 2004.

MP: Both Empire indexes (general and future conditions) are pointing to an economy in recovery and both look a lot like the conditions in early 2002, in the post-2001 recession period.

4 Comments:

At 9/15/2009 8:17 AM, Anonymous Anonymous said...

The index appears to be the second derivative of sentiment. We may have reached the minimum, but there is a long way to go.

 
At 9/15/2009 9:09 AM, Blogger 1 said...

Speaking of derivatives how long will this recovery (dead cat bounce?) last if the Obama administration and the clueless in Congress continues to push the cap & trade fraud?

 
At 9/15/2009 11:31 AM, Blogger bobble said...

"It's Beginning To Look A Lot Like The 2002 Recovery"

and we all know how well that went:

. . a short recovery powered mostly by mortgage equity withdrawal, followed by a financial train wreck.

 
At 9/15/2009 1:12 PM, Blogger 1 said...

bobble says: ". . a short recovery powered mostly by mortgage equity withdrawal, followed by a financial train wreck"...

Hey bobble, give this USNews story a spin, you need the education: Big Media Distorts Bush Economic Record

 

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