by Mike ‘Mish’ Shedlock
The Empire State Manufacturing Index crashed to -9.02 after a brief two-month rally.
March was barely positive at +0.62 with April at +9.56.
This month, the Bloomberg Econoday consensus estimate was 7.0 in a range of 2.50 to 11.20.
What little momentum there was in the New York manufacturing sector is fizzling, based on the Empire State index which came in much weaker-than-expected, at minus 9.02 in the May report to end two lonely looking gains in April and March.