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PCE index increase over 0.15% for December 2024?
3
New York Federal Reserve•Empire State Manufacturing Index•Donald Trump•New York•Goldman Sachs•Personal Consumption Expenditures
Resolution / Starting Odds
Yes • 50%
No • 50%
Bureau of Economic Analysis release of PCE index data for December 2024
Story
Empire State Manufacturing Index Plummets to 0.2, Easing Inflation Pressures
Dec 16, 2024, 01:31 PM
The New York Federal Reserve's Empire State Manufacturing Index for December 2024 fell to 0.2, significantly below the expected +10.0 and a sharp decline from the previous month's +31.2. This drop marks the largest sequential decrease since May 2023, following a surge to an almost three-year high in November after Donald Trump's election. The index's decline indicates a cooling in manufacturing activity in New York state, with new orders dropping to +6.1 from +28.0. Additionally, inflation pressures are easing as the prices received index hit its lowest level since July 2023, and prices paid reached their lowest in a year. Goldman Sachs forecasts a +0.15% increase in the Personal Consumption Expenditures (PCE) index for November.
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