The Empire State manufacturing survey slipped to 24.4 in September from 25.2 in August, according to the New York Fed. Economists expected 19. Readings above zero indicate improving conditions. Subcomponents were also strong. New orders, shipments, and unfilled orders all rose. The Empire State is the first of the regional manufacturing surveys to be released. The Philadelphia Fed survey comes out next week. Economists expect a negative impact on national manufacturing due toHurricane Harvey.
The University of Michigan’s consumer-sentiment index fell to 95.3 from 96.8 in August. Economists expected 94.5. 9% of respondents are concerned that Hurricanes Harvey and Irma would have a negative impact on the economy. According to the University of Michigan, while consumers anticipate a slight rise in gasoline prices and inflation, they see the best financial situation in more than a decade, helped by record high for the stock market , surging home prices, and gains in income as employment continues to rise.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
