ECONOMICS

After three strong 'beats' in a row, the Empire State Manufacturing Survey crashed back into contraction, well below expectations in December (from +9.1 to -14.5, +2.0 exp).

The drop takes the measure from 'expansion' at 7-month-highs to 'contraction' at 4-month-lows…

Source: Bloomberg

The new orders fell six points to -11.3, pointing to a decline in orders for a third consecutive month, and the shipments index fell sixteen points to -6.4, (more…)

US Industrial Production rebounded modestly in November from a drop in October, +0.2% MoM (below the +0.3% MoM exp) after last month';s -0.6% MoM decline was revised even lower to -0.9% MoM. The revision meant that Industrial Production remains down 0.4% YoY…

Source: Bloomberg

Capacity utilization inched higher to 78.8% from 78.7% in Oct., revised down from 78.9%

In the manufacturing sector, production rose 0.3% MoM, below the 0.5% expected and October's (more…)

After dismal data from Europe, which followed earlier PMI numbers from Australia which pointed to a less steep decline, and a gauge for Japan which signaled a return to growth, the Composite US PMI…