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Intraday Economic News: New York Fed Empire State Index Falls To Negative 7.8 Jun 11 Product Image

Intraday Economic News: New York Fed Empire State Index Falls To Negative 7.8 Jun 11

  • ID: 1825356
  • June 2011
  • Region: New York
  • Standard & Poors

Abstract
The New York Fed Empire State index plunged 19.7 points to a negative 7.8 in June. It comes after the 10-point drop to 11.9 in May and was much weaker than the rebound to 13.5 that consensus expected. New orders plummeted to negative 3.6 from 17.2 in May while the employment index dropped to 10.2 from 24.7 the month before. The price readings also weakened, with the prices paid decreasing more than 13 points to 56.1 and prices received falling to 11.2 from 28.0 the month before. The report was much worse than expected, increasing market concerns that the slowdown will not be short lived, as previously expected....

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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