Empire Manufacturing Rebounds To Best In 4 Years But Spending/Jobs Outlook Tumbles

After the biggest miss in over a year, Empire manufacturing rebounded phoenix-like to its biggest beat in 5 years and highest level in 4 years (at 19.0). The massive surge in the headline was matched by a huge jump in the number of employees – great news, except that the average work week was stable and proces received tumbled. What is more worrisome – and suggests this spike is entirely unsustainable is the outlook for capex and tech spending dropped, average workweek expectations shrank, and the number of employees is expected to fall.

 

 

And here is the outlook section of the report…




via Zero Hedge http://ift.tt/1v95Uyu Tyler Durden

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