U.S. ECONOMICS: May NY Empire State Measure Surges to Four-Year High
The May Empire State headline figure surged to a 19.01 four-year high from 1.29 in April, leaving the index well above the 0.83 six-month low reached in November.
The ISM-adjusted measure rose to a 54.1 two-year high from 49.3, versus a 46.6 three-year low in December that was also seen last June.
The Empire State index has oscillated in the opposite direction of the other major sentiment indicators in recent quarters, with a weakening in April despite a firming in most other measures, so Thursday's big May bounce may prove isolated as well.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.