The headline number in the latest Empire State Manufacturing Survey was up big — +7.84 versus expectations for 0.0.

But every other component stunk, according to the report:

  • The new orders index slipped six points to -6.7
  • The shipments index fell twelve points to -11.8
  • And the unfilled orders index fell eight points to -14.5.
  • The prices paid index held steady at 21.0, while the prices received index rose seven points to 11.3.

Read more: http://www.businessinsider.com/negative-data-in-june-empire-manufacturing-2013-6#ixzz2WUE74NjI