FROM THE FEDERAL RESERVE BANK OF NEW YORK COMES:

General Business Conditions

CONDITIONS FOR MANUFACTURERS INCREASED FOR THE FORTH STRAIT MONTH GENERAL BUSINESS CONDITIONS EDGED DOWN TWO POINTS, AT 6.3, BUT REMAINED IN POSITIVE TERRITORY. NEW ORDERS INDEX INCHED UP 2.4 POINTS SHIPMENTS INDEX JUMPED 16.4 POINTS, ITS HIGHEST LEVEL IN MORE THAN A YEAR. INDEXES FOR THE SIX MONTH OUTLOOK REVEALED INCREASINGLY WIDESPREAD OPTIMISM ABOUT FUTURE
BUSINESS CONDITIONS ROSE FOR THE THIRD STRAIT MONTH

CLIMBED TO 40.6 THE HIGHEST LEVEL SINCE THE SPRING OF 2012

Federal Reserve Bank of New York 16 September 2013

FROM THE BOARD OF GOVERNORS COMES:

THE PRODUCTION OF
CONSUMER GOODS INCREASED 0.3% IN AUGUST, AFTER DECREASING 0.5% IN JULY.

Industrial Production

THE INDEX STOOD

2.3% ABOVE ITS YEAR EARLIER LEVEL. September 16, 2013

 CONFIDENCE AMONG
CONSUMERS IS RISING, AND HOUSING IS ADDING TO MANY AMERICANS NET WORTH OVER THE PAST COUPLE YEARS. WITH THAT, PENT UP DEMAND IN THE PIPELINE IS GROWING, AND THE POSSIBILITY OF CONSUMER DISCRETIONARY STOCKS OUTPERFORMING IS VERY REAL.

THIS WEEK

Coming Up
TUESDAY: CPI, REAL EARNINGS WEDNESDAY: MEW RESIDENTIAL CONSTRUCTION THURSDAY: PHILLY FED SURVEY, COMPOSITE INDEX FRIDAY: ATLANTA FRED BUSINESS INFLATION EXPECTATIONS SURVEY