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NY Fed: New York state manufacturing plunges ‘unexpectedly’

Posted By aaron On November 15, 2010 @ 5:17 pm In Economic Crisis,Old Infowars Posts Style | Comments Disabled

AFP
November 15, 2010

New York state manufacturing unexpectedly plunged in November, the first contraction since July 2009 when the US economy exited recession, official data showed Monday.

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The Federal Reserve Bank of New York reported its manufacturing activity index dropped to minus 11.1 points in November, from a positive 15.7 points in the previous month.

The Empire State Manufacturing Survey index is considered a bellwether of the manufacturing sector which has been a key strength in the economic recovery.

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It was the first time the index fell below zero since July 2009, the month after the worst recession in decades was officially declared over.

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