This morning saw one of the first looks at November activity with the NY Fed Empire Manufacturing report. Economists weren't expecting much of a strong report to begin with as the consensus forecast for the headline General Business Conditions index was for a reading of 6.0 vs. last month's reading of 4.0. The actual reading actually showed a slight decline from last month, though, falling to 2.9. While the current conditions index declined, expectations actually saw a small boost rising from 17.1 up to 19.4.
One interesting thing to note is how little Empire Manufacturing