Continue reading "Historical Echoes: The Aftermath of a Devastating Hurricane . . . in 1938" »
Jaison R. Abel, Jason Bram, and Claire Kramer
At today’s regional economic press briefing, we provided an update on housing conditions as well as an initial assessment of superstorm Sandy’s economic impact on the region.
Continue reading "The Different Paths of Greece and Spain to High Unemployment" »
Continue reading "Household Services Expenditures: An Update" »
Continue reading "Historical Echoes: Reverse Bank Run, Or When the Money Came Rollin’ In" »
Continue reading "Doing Well by Doing Good? Community Development Venture Capital" »
Continue reading "Compensation Growth and Slack in the Current Economic Environment" »
Continue reading "Historical Echoes: 1947 Banking Basics, Step by Step" »
Jason Bram and Richard Deitz
The results of this morning’s November Empire State Manufacturing Survey point to a slight decline in business conditions in New York’s manufacturing sector in the wake of “superstorm” Sandy. The headline general business conditions index was little changed from last month and, at a level of -5.2, suggests that overall, business activity was modestly lower than in our previous survey. Employment levels were noticeably down, as the employment index fell 14 points to -14.6, its lowest level since mid 2009. On the upside, however, the new orders index climbed into positive territory and the shipments index shot up 21 points to 14.6, its highest level since May.
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