Recent History Of This Indicator
The Empire State report was the first of several regional reports in March to signal a rebound following a half-year of contraction. New orders showed substantial strength in the March report and they support the consensus forecast for plus 3.00 in the overall index for April. This doesn't sound like much but would be the strongest reading since March last year. The 6-month outlook was also strong in the February report, pointing to optimism that this year's dip in the dollar is certain to help exports.
The Empire State report was the first of several regional reports in March to signal a rebound following a half-year of contraction. New orders showed substantial strength in the March report and they support the consensus forecast for plus 3.00 in the overall index for April. This doesn't sound like much but would be the strongest reading since March last year. The 6-month outlook was also strong in the February report, pointing to optimism that this year's dip in the dollar is certain to help exports.
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