US: Empire State Survey Signals Tough Period for Manufacturing

The Empire index of general business conditions deteriorated in June, signaling an increase in the pace of decline for the manufacturing sector. However, the forward-looking component that measures general conditions for the next six months jumped to its highest level since before the credit crisis first gripped markets in the summer of 2007. Tough Work-out Period, but Future is Looking Brighter Manufacturing in the New York area appears to have lost its footing in June as the business