Empire Manufacturing Plummets

Today's release of the Empire Manufacturing report for June came in weaker than expected (2.29 vs 12.50) and showed a large drop from last month's reading of 17.09.  It was the largest one month decline since June 2011, and further put the growth prospects of the US economy in doubt.  Across the board, this month's report was weak as not a single subcomponent of the current conditions index increased during the month.

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