
Empire State Manufacturing Contracts Less Than Forecast but Outlook Deteriorates
Labor market stable, cost rapid climbing Employment was largely flat, with the number of employees index -2.6. However, the firms cut the hours, as shown by the average workweek index -9.1. Pricing pressures were raised meaningfully: The index paid jumped up to 50.8, and prices climbed to 28.7 – the fastest speed of the price…