Empire state index shows slower growth in July

By: Rex Nutting, MarketWatch

Commentary:

The Empire Index is one of the more closely watched indicators – not so much because the industry in New York is so much more dynamic and influential than in other regions but because it has tended to stay very diverse over the years – as much old traditional heavy industry as there is new technology. The data collected is also very accurate and has a long history with which to compare. It is reasonably good news that the data still points to growth but the fact that this has become more anemic in recent weeks is not very encouraging – at least as far as the more traditional manufacturing sectors are concerned.

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