MW: Empire State index falls to record low in November
By Rex Nutting
WASHINGTON (MarketWatch) -- Manufacturing activity contracted at an accelerated pace in early November, the New York Federal Reserve Bank said Monday. The Empire State index fell to negative 24.6, a record low in the 8-year-old survey. The gauge of new orders also fell to a record low. The indexes for shipments, employment and unfilled orders were also negative. Readings below zero indicate that most firms surveyed say business got worse in November compared with the month before.
