Ponce
17th May 2010, 03:16 PM
We can only cousume so much (specially now days) before no more can be sold so that the only answer is EXPORT.........but nawwwwwww, who would want US proucts?
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Manufacturing in New York Region Slows as Sales Cool (Update2)
By Courtney Schlisserman
May 17 (Bloomberg) -- Manufacturing in the New York region expanded at a slower pace in May than forecast as sales cooled.
The Federal Reserve Bank of New York’s general economic index fell to 19.1 from 31.9 in April, which was the second- highest level in four years. Readings greater than zero signal gains in the so-called Empire State Index that covers New York, northern New Jersey and southern Connecticut.
Today’s report indicates manufacturing is settling into a more sustainable pace of growth after helping pull the economy from the worst recession since the 1930s. Area factories boosted payrolls this month at the fastest pace in six years, showing they will probably keep expanding as consumer purchases strengthen, businesses rebuild inventories and exports pick up.
“Manufacturing continues to do well,†said Eric Green, chief market economist at TD Securities Inc. in New York. “Corporate America has underinvested in capital growth, so we’re in for a period of very solid growth of equipment and software spending and that will provide a support for manufacturing.â€
Global demand for long-term U.S. financial assets strengthened in March to a record as investors from China to the U.K. purchased the most Treasury securities since November, a Treasury Department report today also showed. Net buying of equities, notes and bonds totaled $140.5 billion compared with net buying of $47.1 billion in February.
Stocks, Euro
Stock-index futures were little changed after the reports as mounting concern that Europe’s debt crisis will worsen offset signs the world’s largest economy was expanding. The price of the contract on the Standard & Poor’s 500 Index fell 0.1 percent to 1,134.5 at 9:12 a.m. in New York. The dollar climbed 0.1 percent to $1.2347 against Europe’s single currency, the euro.
Economists forecast the New York Fed’s index would decrease to 30, according to the median of 41 projections in a Bloomberg News survey. Estimates ranged from 25 to 34, and the index has averaged 10.6 since its inception in July 2001. Manufacturers account for about 6 percent of New York’s economy.
The New York Fed’s gauge of new factory orders decreased to 14.3 this month from 29.5 in April. A measure of shipments dropped to 11.3 from 32.1.
The employment measure climbed to 22.4, the highest level since May 2004, from 20.3 in April. Factories nationally have added 101,000 workers to payrolls since the beginning of the year, according to Labor Department data.
Commodity Prices
Today’s report showed an index of prices paid advanced to 44.7, the highest level since September 2008, this month from 41.8, while prices received decreased to 5.3 from 6.3.
Factory executives in the New York Fed’s district were less optimistic about the future. The gauge measuring the outlook six months from now decreased to 42.1 from 55.7 in April.
A Fed report last week showed industrial production rose 0.8 percent in April. Another April measure, the Institute for Supply Management’s factory gauge, jumped to the highest level in almost six years, according to data released May 3.
Economists surveyed by Bloomberg News project the Philadelphia Fed’s general economic index, to be released May 20, climbed to 21.5 from 20.2 in April. Readings above zero for that measure also signal expansion.
The biggest jump in consumer spending in three years and a 13 percent rise in business investment in new equipment helped the economy expand for a third straight quarter in the first three months of this year. Manufacturers make up 12 percent of the economy and are benefitting from the gains in spending and expanding global economies.
Buying Televisions
A pickup in consumer spending helped Corning Inc., the world’s largest maker of glass for flat-panel televisions, report a 57 percent jump in sales for the first quarter compared with the same time last year. Exports also were a boon for the Corning, New York-based company.
“The economy is getting a little better,†Senior Vice President Tony Tripeny said in an interview April 28. “A lot of people are out there buying TVs, especially in China and Japan. Both notebooks and monitors sold better than we expected, partly due to businesses and the developing world.â€
http://www.bloomberg.com/apps/news?pid=20601068&sid=ahr7YAHW1Ics
=============================================
Manufacturing in New York Region Slows as Sales Cool (Update2)
By Courtney Schlisserman
May 17 (Bloomberg) -- Manufacturing in the New York region expanded at a slower pace in May than forecast as sales cooled.
The Federal Reserve Bank of New York’s general economic index fell to 19.1 from 31.9 in April, which was the second- highest level in four years. Readings greater than zero signal gains in the so-called Empire State Index that covers New York, northern New Jersey and southern Connecticut.
Today’s report indicates manufacturing is settling into a more sustainable pace of growth after helping pull the economy from the worst recession since the 1930s. Area factories boosted payrolls this month at the fastest pace in six years, showing they will probably keep expanding as consumer purchases strengthen, businesses rebuild inventories and exports pick up.
“Manufacturing continues to do well,†said Eric Green, chief market economist at TD Securities Inc. in New York. “Corporate America has underinvested in capital growth, so we’re in for a period of very solid growth of equipment and software spending and that will provide a support for manufacturing.â€
Global demand for long-term U.S. financial assets strengthened in March to a record as investors from China to the U.K. purchased the most Treasury securities since November, a Treasury Department report today also showed. Net buying of equities, notes and bonds totaled $140.5 billion compared with net buying of $47.1 billion in February.
Stocks, Euro
Stock-index futures were little changed after the reports as mounting concern that Europe’s debt crisis will worsen offset signs the world’s largest economy was expanding. The price of the contract on the Standard & Poor’s 500 Index fell 0.1 percent to 1,134.5 at 9:12 a.m. in New York. The dollar climbed 0.1 percent to $1.2347 against Europe’s single currency, the euro.
Economists forecast the New York Fed’s index would decrease to 30, according to the median of 41 projections in a Bloomberg News survey. Estimates ranged from 25 to 34, and the index has averaged 10.6 since its inception in July 2001. Manufacturers account for about 6 percent of New York’s economy.
The New York Fed’s gauge of new factory orders decreased to 14.3 this month from 29.5 in April. A measure of shipments dropped to 11.3 from 32.1.
The employment measure climbed to 22.4, the highest level since May 2004, from 20.3 in April. Factories nationally have added 101,000 workers to payrolls since the beginning of the year, according to Labor Department data.
Commodity Prices
Today’s report showed an index of prices paid advanced to 44.7, the highest level since September 2008, this month from 41.8, while prices received decreased to 5.3 from 6.3.
Factory executives in the New York Fed’s district were less optimistic about the future. The gauge measuring the outlook six months from now decreased to 42.1 from 55.7 in April.
A Fed report last week showed industrial production rose 0.8 percent in April. Another April measure, the Institute for Supply Management’s factory gauge, jumped to the highest level in almost six years, according to data released May 3.
Economists surveyed by Bloomberg News project the Philadelphia Fed’s general economic index, to be released May 20, climbed to 21.5 from 20.2 in April. Readings above zero for that measure also signal expansion.
The biggest jump in consumer spending in three years and a 13 percent rise in business investment in new equipment helped the economy expand for a third straight quarter in the first three months of this year. Manufacturers make up 12 percent of the economy and are benefitting from the gains in spending and expanding global economies.
Buying Televisions
A pickup in consumer spending helped Corning Inc., the world’s largest maker of glass for flat-panel televisions, report a 57 percent jump in sales for the first quarter compared with the same time last year. Exports also were a boon for the Corning, New York-based company.
“The economy is getting a little better,†Senior Vice President Tony Tripeny said in an interview April 28. “A lot of people are out there buying TVs, especially in China and Japan. Both notebooks and monitors sold better than we expected, partly due to businesses and the developing world.â€
http://www.bloomberg.com/apps/news?pid=20601068&sid=ahr7YAHW1Ics