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General TradingE
Empire State Manufacturing Index (ESMI)
The Empire State Manufacturing Index is a monthly survey by the Federal Reserve Bank of New York measuring manufacturing conditions in New York State. A reading above zero indicates expansion while below zero signals contraction, making it an early indicator of U.S. manufacturing health.
Example
“The Empire State Manufacturing Index plunged to -31.8, well below the expected +5.0, catching traders off guard and triggering a sell-off in industrial stocks as recession fears mounted.”