Optimism was muted after New York manufacturing data: What's going on?
Manufacturing activity in New York state held steady in July after an uptick last month, data from the Federal Reserve Bank of New York showed Monday. The New York Fed said its general business conditions index fell to 1.1 in July after surging to 6.6 in June, although a positive reading still indicates growth. Economists had expected the index to drop to zero. The index for future business conditions fell to 14.3 in July from 18.9 in June.
💡 Summary：
• The pullback by the headline index was partly due to a notable slowdown in the pace of shipment growth, as the shipments index tumbled to 13.4 in July from 22.0 in June.
• The number of employees index grows to a positive 4.7 this month from a negative 3.6 in July, returning to positive territory for the first time since January.
• The unfilled orders index slipped to a negative 8.8 in July from a negative 8.0 in June, indicating unfilled orders continued to decline.
• The prices paid index slid to 16.7 in July from 22.0 in June, and the prices received index dropped to 3.9 in July from 9.0 in June.
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Time: Now – July 25, 2023, 08:59 AM EDT/08:59 PM SGT/11:59 PM AEST
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Lai Tw : 1. This result shows a relatively stable state of manufacturing activity in New York, with a growing trend despite a decline in the overall business condition index. This may mean that manufacturing in New York State is still resilient in the process of economic recovery. However, we also need to focus on other data and indicators to get a more comprehensive economic situation.
2. I will continue to monitor economic data and relevant indicators closely to keep abreast of market changes and trends. I would also consider diversifying my portfolio across multiple asset classes and sectors to reduce risk. In addition, I adjust my portfolio based on economic development and market conditions to ensure a balance between risk and return. Most importantly, I will stay calm and make rational investment decisions to avoid short-term fluctuations.
727727727 : I think that any economic results that beat expectations is a good thing. Not sure how anyone could be dour on this news!
My investments, as always, are buy and hold. I invest for the long term, not to turn a profit by Friday...
lightfoot : No. I can't see a future for EV's. This is a massive financial risk beyond comprehension. People immigration will leave some blue states on the verge of collapse. Open borders are inflationary taxing resources and treasury. What is left of the working class is being diminished by inflation, no private sector jobs, green energy being the culprit along with The incompetence of this government and people like Yellen, Kerry. The Democrats-socialist party is driving the US Machine in a deep financial situation that will take 10 Reagans to undo. Long term stocks are no longer reliable. No growth appreciation. It has become a crap shoot. There is no way we can recover from the insanity of the Bidens, The DOJ, The FBI, The State Depart and Transportation. They have 20 20 vision and walking around blind.
lightfoot : A one party system will literally destroy us within
deming111 : Results shown weakness in the economy. My investment strategy will be keeping more percentage of my portfolio in cash and enter short term trade cautiously. Applying swing trader style.
Ant_yeh : 1. Resilient US economy.
2. Continue DCA into broad market index funds, I would buy more when it’s down and buy less when it’s up with extra funds.
PaAg1378 : Too much money floating or being held, definitely uptrend.. Until economy crashes.. Lol
cola1010 : Manufacturing activity in New York remained stable in July after increasing in June, but there are some concerns, with the general business conditions indicator falling to 1.1 from 6.6 and future business conditions also falling. Another source of concern is the slowing of shipment growth and the decline in unfilled orders. However, there is one bright spot: an increase in the number of employees index. For an investment strategy, it's advisable to diversify investments, stay informed about economic indicators and market trends and adopt a long-term approach.