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JPMorgan on Dramatic Empire State Survey Drop, 'one of its weakest readings on record (back to 2001)'

August 15, 2022 9:41 AM EDT

JPMorgan on Dramatic Empire State Survey Drop

Analyst Daniel Silver comments "The August Empire State manufacturing survey was disappointing and pretty downbeat in terms of its headline and several key components. The headline index dropped from 11.1 in July to -31.3 in August, hitting one of its weakest readings on record (back to 2001). And the new orders index fell to -29.6 and the shipments measure dropped to -24.1,... More