Empire State Manufacturing Survey Improves – What Is This Saying?

Backlog has been growing in the hard data so it is easy to believe the survey is likely correct. New orders continued its four month downward trend line which is a seeming contradiction – intuitively new orders and backlog should move in the same direction.

ISM Manufacturing Survey Improvement Continues

The ISM manufacturing survey January 2011 increased over 5%. Meaning? The direction of ISM correlates to that of industrial production 3-9 months foreward.