Empire Fed
- Prior was -15.6
- New orders -1.0 vs -16.2 prior
- Prices paid +24.5 vs +33.7 prior
- Employment -8.7 vs -5.1 prior
- Six month index +30.1 vs +14.5 prior (two year high)
These details and the headline paint an improving picture in the first manufacturing survey of the month. Despite that, the Fed might notice that the employment and avg workweek numbers have been steadily (though slowly) worsening.
