Economic Reports 07/16/07
NY Empire State Index Jul 26.5 vs prior 25.8 Full Report
Inside the number: Good news, new orders rising for the 4th straight month 26.5 vs 17.2. Prices paid declining 34.57 vs 42.55.
Capital expenditure expectations up 29.6 vs 18; Tech spending expectations up 22.2 vs 18.
Bad news, prices received declining 8.64 vs 9.57.
Delivery times shrinking -6.17 vs -1.06; inventories plunging -19.75 vs +3.19.
New orders are up, prices paid moderating for the moment. Curious, as to shipments being level, yet things are getting out the door faster while inventories are not being replenished.
It almost sounds like a work off of excess channel stuffing with lowered future expectations. TBD.
Inside the number: Good news, new orders rising for the 4th straight month 26.5 vs 17.2. Prices paid declining 34.57 vs 42.55.
Capital expenditure expectations up 29.6 vs 18; Tech spending expectations up 22.2 vs 18.
Bad news, prices received declining 8.64 vs 9.57.
Delivery times shrinking -6.17 vs -1.06; inventories plunging -19.75 vs +3.19.
New orders are up, prices paid moderating for the moment. Curious, as to shipments being level, yet things are getting out the door faster while inventories are not being replenished.
It almost sounds like a work off of excess channel stuffing with lowered future expectations. TBD.
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