Afternoon Note
More evidence that the Manufacturing Renaissance continues to pick up steam, as the NY Fed Empire State report just crushed Wall Street consensus and general business conditions climbed to a three-year high.
Highlights
New orders declined 6.9 points to 18.0, but overall this was another strong report on manufacturing with expectations for general business +5.5 to 44.8.
Let’s keep our powder dry for the rest of the afternoon.
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