Outlook for (US ) Empire State Manufacturing Survey to second lowest reading in 20 years

Greg had the data on Tuesday, US time:

• a sharp deterioration in business sentiment

The survey was conducted April 2 to 9, just after the destructive reciprocal announcement but prior to Trump’s 90 day pause.

It makes for ugly reading.

The outlook for the future is dire, bolding mine:

• Firms turned pessimistic about the Outlook with the future general business conditions index falling to its second lowest readingin the more than 20 year history of the survey
• Firms expect conditions to worsen in the months ahead, a level of pessimism that has only occurred a handful of times in the history of the survey.
• The index for future
  general business conditions fell twenty points
  to -7.4; the index has fallen a cumulative
  forty-four points over the past three months.
• New orders and shipments are expected to
  fall slightly in the months ahead. Capital
  spending plans were flat. Input and selling
  price increases are expected to pick up, and
  supply availability is expected to worsen over
  the next six months.

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While the current conditions graphs are not great, the forward-looking ones are vomitous. This is a snippet pic, link here for more.

This article was written by Eamonn Sheridan at www.forexlive.com.