Please go down to one of these factories in your area today and tell them to pull themselves up by the bootstraps. TIA.
A gauge of New York-area manufacturing became more pessimistic in October, data released Monday showed.
The Empire State index fell to negative 6.8 from negative 2 in September, on a scale where any reading below zero indicates contracting activity. That’s the weakest reading since May.
The index for new orders improved slightly but was still negative at minus 5.6. Orders for shipments, unfilled orders, delivery time, inventories, number of employees and average employee workweek all were negative.
The manufacturing sector has been a laggard for the U.S. economy. The strong dollar and weak oil prices have contributed to the malaise.
The Empire State gauge is the first of several regional manufacturing indexes to be released.