Emily
Editor, Senior Moderator
https://www.msn.com/en-us/money/mar...c-gauge-slumps-for-the-third-month/ar-AARjba3
https://www.msn.com/en-us/money/mar...c-gauge-slumps-for-the-third-month/ar-AARjba3
Key New York State Economic Gauge Slumps for the Third Month
Alex Tanzi - Tuesday
(Bloomberg) -- A bellwether for New York state’s economic activity declined for a third straight month in October, signaling a downturn in one of the key engines of the U.S. economy.
The Index of Coincident Economic Indicators, which factors in employment and average weekly hours of manufacturing workers among other measures, decreased at an annual rate of 0.3%, after dropping 1.4% in September and 1.7% in August, according to the New York State Department of Labor.
New York generates more than 8% of the nation’s gross national product so if the state falters, that doesn’t bode well for the U.S. Only California and Texas have a larger impact...
https://www.msn.com/en-us/money/mar...c-gauge-slumps-for-the-third-month/ar-AARjba3
Key New York State Economic Gauge Slumps for the Third Month
Alex Tanzi - Tuesday
(Bloomberg) -- A bellwether for New York state’s economic activity declined for a third straight month in October, signaling a downturn in one of the key engines of the U.S. economy.
The Index of Coincident Economic Indicators, which factors in employment and average weekly hours of manufacturing workers among other measures, decreased at an annual rate of 0.3%, after dropping 1.4% in September and 1.7% in August, according to the New York State Department of Labor.
New York generates more than 8% of the nation’s gross national product so if the state falters, that doesn’t bode well for the U.S. Only California and Texas have a larger impact...