- Empire Index falls to -32.9 versus -4.5 expected.
- The dollar weakens modestly after the data.
The Empire manufacturing index Over activity in the New York region plunged in December from -11.2 to -32.9, below the -4.5 market consensus. It is the fifth worst reading since the index has existed and the lowest since May 2020.
The new order rate went from -3.6 to -31.1, that of shipments from 5.3 to -22.4, that of job from 14.0 to 2.8. The positive side of the report is that the price indices of the report also had a sharp drop. The price paid went from 50.5 to 33.0, and the price received from 25.2 to 18.8.
The dollar lost ground modestly after the data. The DXY falls 0.35% on Tuesday. On Wednesday the report on industrial production and retail sales will be published.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
