Empire State Manufacturing Survey Just Slightly Below Expectations

Headline number: 11.9

Consensus: 12.6

Analysis: A movement higher over December’s 9.89, but otherwise a bit of a disappointment. Not driving markets lower in any way at the moment.

The now all important prices paid and prices received numbers continued to rise, indicating inflation in the costs of input prices and the cost of goods being brought to market.

Price expectations are starting to flatten out in the forward looking view, however.

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Photo: New York Fed

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